There are several other comparable homes nearby seling for $115k to $150k, including the hosue right next door for $115k(3 br 1.5 bth).

Wholesalepro, If only you could make a book that walks up to a person's door, who is about to become The Real Estate Investor; an arm comes out of the book, puts a squirt gun to said person's head and makes them read just some basic things they absolutely must know to even consider REI.

I've had friends have some problems when tenants showed up to their door at home.

(Ex. we paint also a bathroom sink for 70 the floor would be $130 then. 70 plus 120 are 190.

Often, the letter will get forwarded to the owner.Knock on the neighbor's doors and ask them if they know anything about the owner's whereabouts.

So the doors open and in pours about 600 people...

Last year around January he quit taking my calls and then subsequently had his cell phone shut off. he was never there when I went by and was even told he went out the back door to avoid me.

So I basically have seen two basic formulas on these message boards to determine whether or not a property is a good buy.For rehabbing: (ARV * 70%) - repairs = Max Purchase PriceFor Renting: Rent * 50 = Max Purchase PriceI would like to buy a property to Rehab, but be able to fall back and rent it if I can't find a buyer quickly... while also having positive cash flow after mortgage and operating expenses.If I put an offer on a property for $25k and the ARV is $50k (if I put in all new flooring, paint, and redo the kitchen and both bathrooms) that leaves me $10k (According to the formula) for repairs which I could likely do if I'm doing it all myself.BUT...That would have me with $35k into the property, and I am only confident of being able to rent for $600...

I really wanted to update on my situation for anyone following me (ahaha...not that way). I found a GREAT investor here with Oasis Property Services. I think they've been here about 8 yrs and she has 2 kids EXACTLY th...

Too bad I'm married, I bet all the girls would be beating down my door.