The formulas I am referring to are pay 70% after repair value.

We repair credit for a living and we rented to her so we know what her credit looked like and she didnt care about her credit, a judgment wouldn't have hurt her or helped us any, and we'd be out more in court costs.

I would not recommend this type of investment from afar, and judjing by the explanations/problems in the post above, I would imagine abhyler would not do it again.When purchasing out of state, you should be looking for more turn-key properties, light repairs, if any, as it is very difficult to manage a full rehab from such a distance.I too have done it before and would most likely not do it again, at least not on a sfr/duplex unit, perhaps a large unit/commercial building.

Originally posted by Peter Giardini:No repairs.

I was thinking about buying it at 100,000 so I went to look at it again, the people moved out and turns out they were hiding some things with there furniture, Im doing a FHA loan and the house would not have passes inspection there were quite a few repairs done by the home owner that were done pretty badly and were not up to code.

Experienced rehabbers will normally have set percentages or profit margins that they work off of (i.e. 70% of ARV minus repairs) which are fairly conservative to guarantee that they make money.Your best customers will probably be investors that are buying for long term hold strategies (i.e. rentals, owc's, lease options, etc.).

I personally love the Android market and have found great usage in Google Voice because it's interconnected with a service I already use for email.We can name products once purported to increase efficiency; automobile, computer, microwave.

The investor buyer should be walking through with a contractor if they aren't able to estimate the repairs themselves.I can't think of one wholesale deal I've had that a property inspector walked through for the buyer.

But still posible to get 65% ARV minus repairs straight out of the MLS in some areas of SoCAL.

I learned long ago not to expect any gratitude from tenants.I do repairs the same day that I'm called, and I try to do one upgrade to each property once a year.