All Forum Posts by: Pratik P.

If it's in a good rental area,  you could subject 2 it,  make the repairs and rent it out!  

Now would the offer that the buyer makes include the full mortgage balance? For example if there is a 30k mortgage on the property and we want the seller to pocket 10k. Do we offer 40k with the assumption that the title company uses 30k to pay off the mortgage?

Getting buyers and a lawyer isn't difficult.  Finding deals is the tough part.  So if you're able to find good deals,  you should just work it yourself and get 100%. 

Tim and others have said it well.  Start marketing for properties right away.  You don't need a giant buyers list.  In fact,  you only need a few buyers that buy ANY good deal.  These are the big players who do many flips a year.  Finding buyers is much easier for a good deal than finding the deal itself.  

Besides,  You should be talking to people and networking anyway.  You'll come across buyers that way as well. 

This is what I would do...I would try to take that cash, pay the tax (I assume it counts as income tax), and use the rest to start a wholesaling business. Hire people to do the grunt work like mailings, marketing, taking calls, calculating MAO values for motivated leads. If you scale it well, you'll be the go-to person for many flippers in your area. You will be the deal bringer!....But that's just what I would do :]

The only way I see midtown as a good investment at this point is if you find a distressed property and buy it on a discount to fix up and rent yourself. Like others have said, the current asking prices are crazy high for the income they bring. I'm sure you can find better ROI in the surrounding areas!

Love the words of wisdom! Congratulations! 

Wait,  is the cash flow $1650 or gross income $1650?  If that's the actual cash flow,  I'd say you're sitting on a golden opportunity! 

Direct mail all the way!  

You gotta tell us about the deal man! 

How'd you find it? 

How did you negotiate? 

What are the numbers?