http://www.youtube.com/watch?v=yaG1lljUfUs
The perfect buying strategy: Your purchase and rehab cost should total no more than 60% from the monatary amount, which means after all is said and done, the house is 40% under market price and can be sold faster than other properties in your community. For example, you may notice an individual family home in an area that can easily sell for 200K, you need to have a house fully bought and fixed for less than 120K. If you are borrowing money from a lender or private source, make sure you add their cut in the equation.
The three steps to consider when looking for this sort of property is to locate, ask, and negotiate. Though there are lots of variables to take into account, these three steps are all you need to do to shut a deal for the bankable property. Real estate is actually difficult enough without multiple, complicated steps. Thus, the simper the task, the better you will end up later on.
4) What will this set me back? This question is sort of linked to reduce costs regarding commissions but goes deeper than that. This is especially true in the case of mutual funds and alternative investments that could have annual expense ratios, account maintenance fees, or other various charges. These fees might seem minimal at first however when added up could have a significant effect on the investment's performance. This is also an incredible question for any fee-only advisor. Some advisors charge a designated annual fee while some may charge a percentage of assets they manage (e.g. 1.25%). Still others may charge both with regards to the services they provide. Advisors are needed to supply a form known as the ADV Part II and Schedule F to the clients. This form describes in depth what services can be found and the way the advisor is paid. Be sure you get these forms in addition to their disclosure brochure so that you can experience an accurate picture of the items you'll pay for his or her services.
