I count labor into my cost. Also from the panel, I am just curious on where individuals are buying properties if you can not find them at 50 cent on the dollar.
Are you staying in these plush areas that you feel comfortable or are you truly going to areas where you can hit that target goal.
Because what I am hearing is that ARV $100k you can not purchase this property for 50k and I would definitely disagree with the panel on this one.
Some who BUYS not FLIPS and BUYS right hone in on this one. See I am laughing because everyone is a wholesaler now and everyone wants to buy and flip, but you very seldom here about those in todays market buying and holding. Let's put some figures out here.
I just bought about 4 mths ago a home 3 bd 1 ba on a little over an acre. I paid 13k and I will send the HUD to anyone who wants to see it. Just PM me. The home is not a junker it is where my strength in real estate is and that is marketing. The home has new windows and is in on a scale of 1-10 a 7. The home is worth 98k and I have had to put 15k into it. I will send photos to ALL THE NON BELIEVERS.
I am just trying to understand that if the market is so good for BUYING, why can't you find the 30%-40% deals. If you are doing what OTHERS are not willing to do then you will get the results that others do not.
Sorry did not mean to burst any bubbles on this thread, but if you are new and do not understand the industry in the full thereof then you need to heed the advice of the forum, but ONE of you pls COMMENT on this that everyone is looking for deals at 50%. I do not even look at deals unless I can LEGALLY STEAL them.
Time and Circumstances.