jimmyaro

I'm buying absolute wrecks that nobody wants. Look at it this way ... I'm getting a lot, foundation, and a shell of a house, for $1,000 to $10,000. I invest $20,000 to $40,000 and a months time in each property, I then sell at 60% of the current market value for a profit of $150,000 to $200,000. The ratios stay the same, just prices and costs change with geographical areas.

If you buy a property that still has 80% owed on the note, needs work, or was stripped ... well there will be no profit. You have to consider each one to be a complete wreck that needs everything when you figure your profit margine before each purchase ... it pays to run from some deals.

Some people hold out for too much money on a flip, my profits may not be as high on each property, but they are selling 10 properties in the same amount of time that I sell several hundred properties.