What does it mean when u say " make money when you buy the property not when you sell" What does that look like. I think I get but not sure. Thanks for the help
Hey John. Essentially that phrase is saying that real estate investing is pretty predictable once you get your head wrapped around it. As long as you buy right (have the right ARV and repair costs) and get it for the right price then you know what you are going to make from day one.
Also when you "buy right" and understand your deal you could potentially make money up front, monthly and at sale down the road...this is a "lease option scenario" :)
Another way of looking at it, and i am sort of repeating what has already been offered, is that you 'make' your profit, ie, lock in your profit at contract time by getting the property at a good price and understanding your repair and ARV numbers, but you receive money when you sell. But the cake has already been baked when you decided what to pay for the property.
Hello BP family. Thanks so much for the help. I'm still learning the jargon. This was a great help.
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