Also another question, how does the typical 70%ARV-Repairs max purchase price do in Miami, is it even possible?

Hey guys,I did some digging on the topic and I'm sure it is somewhere in the archives, but I can't seem to find anything about "quiet costs" (taxes, insurance, cost of money etc) when determining max offer.From what I understand the standard formula is: ARV x .7 - repair costs - assignment fee = MAO I don't see anything about quiet costs in that formula.

As with many new investors, I don't have a ton of startup capitol so I'm looking at wholesale deals to bring in some additional capitol for down payments and repair expenses.

So in the end I do not waste too much time with it, I delegate as much as possible.I work for free like stock investors do when they have to follow up the market every single day.I am now looking at Hamilton apartment buildings with 10 apartments because I am not interested in buying 150K properties and have to manage tenants and repairs all over the place to just get $500 per property at the end of the month.

Not included are repairs, capital reserves/improvements, vacancy, any owner paid utilities, and management.

Do as much due diligence (including general inspection, search for open permits, search for code violations and code liens), and gather repair estimates on the property as early as possible in the inspection period, then use the "not readily apparent" items as your way out of a contract if the deal turns out to be no good.

Now when figuring my purchase price do I use the original X because I'm allowing 10% for these repairs and it will even out someday, or do I use X + 12k.

Hi Account Closed ,You should bring a repair estimate sheet (to estimate repairs), camera, and a contract.

To this end, there are 4 things you need to understand..1) You need an agent you can trust to run comps and determine the ARV (After-Repair Value).

If you can include the purchase price, repairs, and the closing cost into an HML then you are getting in with no cash out of pocket; it all depends on the deal and the numbers.