I didn't like doing the chores and stuff I did as a kid, but then I look back and think I was such a hard worker, why don't all the kids today chomp at the bit to do yard work and homework

Most of the programs out there take advantage of people's ignorance about mortgage math and how loans are amortized.

Based on my math, your payments are about $250 to $300 and I'm guessing taxes and insurance might be another $300 or $400 (assuming the assessments are still pegged to boom prices as most counties here are still at).

Being accurate on this is essential inorder to make proper offers.Now that you know that, using proper math is also essential.

There is no magic math.

btw marc i applaud you for asking the question...when i first came to BP i didn't know the first thing about business or math formulas..just knew how to find a good deal and fix it up...look forward to your contributions as you continue to learn :)

The real estate agent that came in after doing his homework said we can realistically expect to get 120k to as much as 125k if we sell it.

Fortunately I do my homework on comps and I don't put stuff under contract just for the sake of doing it.

I doubt any wholesaler is making $100k per year.Lets make sure the math is right first.

Oh and BTW- I realize my parents had outgoing expenses over the 35 yrs of owning the condo (though no roof or exterior work came out of their pockets)- but I really did do out the math recently and it was around a conservative $275k profit plus appreciation.