Hey guys...so far it's kind of been crickets on offers I've submitted for fix and flips. I know that a lot of people submit as many as 20 or 30 offers before they will get one accepted. REO's around here are ridiculously over priced here anyway...at least of course that's my opinion.

Anyway...here are the numbers on the deals I've looked at. All of the repair costs are estimates I've put together based on spending several hours at Lowe's and Home Depot getting material costs and using J Scott's book on Estimating Rehab Costs to ballpark the labor costs. I've bounced these numbers off my realtor, other local investors from my REIA, and two different contracts and they've said that they think I'm in the right ball park on these estimates. Let me know your thoughts so I can improve my deal analysis and submit stronger offers.

Each deal with have a separate post below this main one, to keep things a bit more organized and allow people to comment on specific deals. Thanks again for everyone's feedback! Hopefully this will help me and other newbie's learn how to best submit our offers!

Some background on my financing too I suppose before moving forward with this...I am qualified for a HML at 4 points and 14.9% interest only for 12 months. However I have a private lender willing to fund up to on some of the costs at 10% interest on his loan value, for second position with no payments until closing (i.e. If I borrow $10k I owe him $1000 at the end whether I borrow for 3 months or 10 months), and I was recently qualified by a small local bank for a construction loan with 1 point and prime + 1% interest only for 6 months with an option to extend to 12. I also have some personal funds to contribute...so this all takes into account the best possible scenario I'm able to come up with for minimizing my holdings costs.

I guess my main question is...as a newbie...am I building in too much extra for into the "oh crap I really screwed this up and I'm totally going to lose my shirt" fund? Also the offer prices indicated are only starting offer prices and give me the ability to work my way up a bit if there's a counter offer. The rationale behind having such "large" potential profits...isn't that I'm greedy, but that I'm trying to budget for my screw ups...

However...I'm already factoring in 9 months to complete when I'm hoping it's really closer to 4-6 months. And I have a 10% buffer built into my repair costs. So do I really need an extra $5-10k (after expecting to come up on my offer price a bit) built into the profit as well?

Thanks in advance for everyone's collective wisdom!