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BIGGERPO, I never got your welcome wagon intro :cry:

Do any of you recommend placing an ad advertising your ability to rid them of their problems and close quickly??

Thanks!

I could be way off, but it seems like the 2% rule only works in very low income areas where the properties are bought for under 100K. Unless you meet the right person like it seems Mike has in Oh.....

When doing a cash flow analysis of a proposed rental property, does everyone use 50% of gross rents as the properties operating expenses. Though it makes practical sense, it sure cuts down on the amount of rentals that do cash flow. Just wondering who else uses this method. A quite simple method to predict cash flow for a rental.

Thanks, Chaz...

I agree with you that Mike's criteria will never work in some markets. At least that's they way it seems in mine. So I may need more capital(down payment). But I thought you should never MAKE a property cash flow????????????? I'm confused. I need to find some pocket listings like Mike said. What exactly are pocket listings??? In house deals???

Thanks Mike & REI for the comments!!

Mike- you need to come to southestern Pa and show me some of these deals. I'll pay you, because they don't exist. 50% below FMV. Are you buying these properties in the "ghetto". I ran those numbers by some older investors at a local REIA meeting and they nearly ran me out of the building. Especially the one about 2% gross rents of the purchase price. So everyone on this borad buys this way. 50% below FMV and 2% GR of purchase price??????????????????????? My buyer broker said it's possible, but will take a long time...

Chaz...

Hi- Just wanted know what investors are experiencing in terms of cash flow while using 50% of gross rents. Are you TRULY finding properties that produce gross rents equal to 2% of the properties purchase price??? Does anyone have a minimum amount of cash flow they require for each new property??? And is anyone really buying below 70% of FMV without becoming a foreclosure expert??? Is this reality would love to hear from some seasoned vets, THANKS!!!!!!!!!!!!!!!!!!

Chaz...