All Forum Posts by: Teal Lambert

I understand but that's the problem is getting the right numbers on such a major rehab. I guess I could post my best guess to the rehab cost.

Thank you for your quick replies. When such massive rehab is needed it could mean the difference of thousands of $ when something may be overlooked and not originally planned for. This is what scares me about properties like this. I know sometimes we must take risk, but Its hard sometimes to figure the right price.

I recently walked away from a rehab project simply because of the amount of work that needed to be done. I could have purchased it for a fair price but I just didn't feel comfortable with it. Do any of you have a formula you use to know if a property is just too much and maybe more like intensive care than a rehab. Just curious as to anyone has profited from such a property, and when to walk away.

Suraj, you sound like a respectful investor. However you do have to weed out some, and invest in properties that will make you money, which is all our ultimate goal. My best advise for you is to run the numbers, then run them again.  You can make profit anywhere. Just make sure a deal is a deal.

Provided you are sure of the value of the property I wouldn't politely offer them a very low number and see if they counter your offer. If it isn't even in the ballpark. Just walk away but be nice about it. You never know when they may call back. 

Does this kind of business go on with members here much? 

just curious I want to treat everyone fair. 

thanks for the replies. 

So is it kind of a % type deal or more a flat rate depending on how well the bird dog performs. 

I'm curious how many of you have people out there that help find you deals other than realtors, and what do you think is a fair compensation for the lead?