All Forum Posts by: Phil Z.

At least your Profit amount didn't include your Down Payment like the 'profit' checks the Gurus flash around ;)

Also your Carrying Costs shoulding include your downpayment.   I think the best way to show your number would be:

- Purchase Price  (Exactly what you paid, make note of any concessions)

- After Repair Value (or List Price if its active so you don't give away your bottom line)

- Carrying/Closing Costs (loan points + interest + taxes + attorney fees + utilities + insurance + etc)

- Repair Costs

- NET Profit

Great job with the rehab! :)

Your loan is probably 12% annual interest which is 1% per month.  ???

I have someone that can help you on the buying side as well if you want to PM me.

I am ;)

I think this post was mis-titled. FREDDIE MAC is offering 3% which is much different than FHA (which has always offered 3-3.5%).

Awesome! Hope to see you at the next Fairfield meet up to hear more about it. :)

Hi Tony, welcome to BP.

My initial words of advice are .. if you plan to keep this passive, I suggest you get a good property manager. :)

This brings up a great topic .. Checks are incredibly insecure.

If you are going to use checks, I suggest you write them with an Ink Gel pen made for check signing.

- For Wholesaling obviously credit does not matter.

- Fix and Flip, its a 50/50 .. but it can definitely be done with less than great credit depending on the lender.

- Buy and Hold credit is very important.

Also, as far as I know .. FHA loans are only for owner occupied properties.