Saturday, December 8, 2007

Flipping Real Estate: Calculating Costs

If you been in the real estate investing business, or more specifically been flipping real estate, for more than a few days, you?ve inevitably gotten an email that reads something like this:
?Investor?s Dream. This property will go QUICK.
- Property Address: 1234 Main Street
- Asking Price: $100,000 (Add or subtract zeros!)
- After Repair Value: $150,000
- Repairs: $15,000
- Profit: $35,000
- Details: Needs paint, carpet, tile, new kitchen, update bathroom, some roof damage.
- Tenant occupied. Need to evict!?
STOP! Before you read on? Take a guess at what you think the ?real? profit?s going to be on this real estate investment?
If you haven?t ever gotten an email or fax broadcast like this, then rest assured, you will! I?m about to prob View the rest of this article

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