All Forum Posts by: Account Closed

$36000.    My poor math skills. 192x12=2304 yearly interest.    2304\.08=28800.    28800/.8=36000.

Check with Raheem. Apparently he has a method of getting these properties for free.

What's that thing called that lives under a bridge?

This is the best post I have read on here in a long time! 

Buy from those that want to sell and sell to those that want to buy.

Do buyers in that area normally have an environmental test done before closing?

780 will get the top rate. Of course other factors might be in place like your debt to income and your employment status.  Interest is on the way up but that sounds reasonable. 

Unless you are doing multiple flips, your biggest mistake was to not wait another month to close so you could have counted the profit as a long term capital gain. That aside,  considering the fact that you had minimal holding costs, your deal was either too thin to start with or your repair estimate was way off. Learn to estimate your repair costs on your own. You can still continue to use your handyman but sub out more of the larger tasks like plumbing and electrical. Since you are only doing one at a time, your real loss here was opportunity cost. 

So you owe 345k and cannot get your asking price of 365k. Where is this 30k in equity you speak of?

Do some googling and a lot of reading. It's a real eye opener!