If a project has a profit in it, I will listen even if it is in China.

I think it's important to know the value of a property and what margin of profit you need to make and then to make offers on the properties that make the best sense for you within the established parameters.The number of offers you make isn't nearly as important as the quality of them and whether you get responses or not.

Basically your buying wholesale trying to sell retail for a profit. but in reality your competing with the wholesale companys themselves selling them for the same price they selled it to you at.

If you get a good enough deal on it and could even make a decent profit selling it at 70-75% of FMV, then you could probably sell it before you even close on your contract.

I'm not much of a rehabber, but I did enjoy Buy it, fix it, sell it : profit!

So 10 k on holdover, 10k on realtors to sell fast...and then I'm down to 20k profit....and guess what?

Profit Proformas, using the above info you create a guessitmate of what you could potentially make on this deal.These are the "basic 10" if you will ;) I would only expect a birddog to make it to #7.PS. when asking a realtor about: zoning, hydrology, utilities, and other basic things.

So my question is how much tax will I have to pay on that $200k profit?

Assuming you have a solid market for townhome product you can get a very solid guage of the potential profits in this deal.

I am a very honest person, almost to a fault sometimes.I basically do my negotiation, by reviewing the facts of the property with the seller, let them tell me some things about the property, their situation, why they are selling etc... but when it comes time to closing the deal, I have no idea what to say to justify my offer without spelling out how I arrived at the numbers (such as I put in offer of 70%-repairs-profit).