They are both great at learning the fundamentals.Oh - and don't forget to set up your Keyword Alerts!

Scenario:Investor purchases building in North Miami in fairly dilapidated state.3200 sq ft block construction with no doors, windows, electrical, drywall etcAt time of closing investor is informed an additional $5000 is payable to Miami City as a 'bond' and the property must be fixed up within one year.Repair quotes for property vary from $110,000-$180,000.Investor flies in contractor from interstate who rehabs entire property with everything meeting code standards, for total cost of $35,000.

Let's not forget real estate brokers make money only if they sell.

It's great for getting into local conversations.See you around the site!

Don't forget Mr.

Secondly, 90 days of holding costs along with that time frame provides a window of time where repairs and improvements might be made to justify a new and higher price, the new owner also has more skin in the game.

It had new windows, roof, furnace, siding, trim, flooring, paint, doors, landscapping,etc.

Tax hit, don't forget depreciation coming back on you and you need to look at the after tax income, where you are on the depreciation schedule and the benefits of holding the units.

That way you don't accidentally forget to cancel a contract.

Forget about seeing one on the MLS.I'm currently gathering info on rentals in the North Nashville area, which was once sketchy (and is still in parts), but is bordered by nice neighborhoods now.