This is driving me crazy!

[duh]

Sure, but why would I set up a latter to climb 20 feet to pick fruit when there is plenty at eye level that tastes just as good?

i fell off a ladder i know what u mean !!!!!!!!!!!

[All in]

Exciting,
     I read your posts and I just feel complled to encourage you to go.....wait for it......wait for it.....all in!  I see you debating the merrits of taking action, it almost seems as if you're asking " Is it ok to only make $11K net on a house".  Stop debating and get in there.  I'm not being critical here, I'm really trying to be supportive.  I see you have posted to this board 92 times but your still "researching and evaluating".  By all means, keep doing that, but you can do it while you cash $$20,000 checks that will ONLY net you $11K after taxes.

     I worked for 11 years for a company that decided at that point they could replace me with a cheaper model.  We parted ways and I decided I wasn't going to work for another company unless it was mine. SO for the past 4 months I've been committed to being in business for myself. Now I've absolutely spent hours reading these boards and others,  and spent thousands on books, training, seminars in the past couple of months, but 18 days ago $57K hit my bank account from my first deal (yes, unfortunately that's before taxes) and last week I got a contract signed for a short sale (no guarantees here) and another deal that looks like this:


3/2 with an ARV of $225-$240K
Purchase price $150,000 needs tearoff of old shingles, new ones installed. 
Other than that just some paint and landscaping.



     Now, don't get me wrong, I know a fraction of what most of the other people on this board know (for now) but I do know that I didn't get paid a cent (before or after taxes) for reading and planning until I started making offers.  Bottom line is this is alot more exciting when you put the fear behind you and get in the game.

     Best of luck to you!

[jacqueline]

If you look at it from a positive point you are making more than the average person makes , so hang in there and keep moving on, it will pay off in due time.

[JaredfromIndiana]

I would ABSOLUTELY second that Jackqueline and All In.  The first rehabs I did I made $7,000 and barely broke even on the next one.  Since those I have really learned how to buy right, how to manage the rehab, and what it takes to make it in this business.  It does take time to learn and grow, just like any job or business, but if you stick with it IT'S FUN!!!!!!!!!!!

[excitingname]

" Is it ok to only make $11K net on a house".    LMAO, that I guess IS what I am doing.  Mainly because I just made 20k (before taxes) in 2 weeks by buying, fixing, selling 2 water trucks.  We buy/sell anything we can make $ on.

$11k net is nothing to sneeze at.  I guess I am mainly just unsure of labor costs, General contractor costs.   I'd love to get to the point of... starting! LOL. no, I'd love to get to the point of having crews to do all the work, even with a general to do most theoverseeing. I'm just unsure of costs.  I guess I need to take a potential rehab offered by a wholesaler that is on a lock box,. and get a few contractors to bid the job.  Even if I didn't buy that house, I'd get a feel for what the contractors would charge for it, and, I'd have some contacts made with different contractors to see who'd work.  DUH! rolleyes It took until now to figure that out!  DUH!

I'm so scatterbrained right now and overscheduled with several businesses and a 2 year old.  My husband and I had a long talk about our goals for life/career and realized we have WAY too much going on.  SO, were trying to sell off 2 of our online businesses and considering part time child care and a cleaning lady 2x/mo so I can concentrate on the RE business and my husband can go legit with our side business of flipping cars, rvs, equipment. 

I have spent probably 20 minutes just to type that.  I am so stressed and streched thin I can't seem to get ANYTHING DONE.  I know these are all just excuses though and people with tougher situations than mine are managing to do it.  I guess I just need to get going and make some offers, and on the way, get organized and keep learning, and all those other things I am trying to do FIRST.

Thanks for your input guys, It's so true, 93 posts now and nothing.  AND, I've been "researching since OCTOBER 06!  .  I just need to send out those letters to all those frigging addresses I drove around for hours to get.  But alas, I allow myself to get bogged down by "the next bitchin thing to hit my doorstep" which currently is a SUPER LOW price on a business rental that is PERFECT for my husbands buy/sell buis.  But wait, how long exactly does a letter to a homeowner take! 

ok, long enough on a POST AHHHHHHHHHHHHHHHHHHHHHHHHHHH.  Could have wrote a letter to HO in that time. AHHH GOttta go get my daughter.

Thank you all!

[JaredfromIndiana]

Hm.  Not sure whether to say lay off the coffee or the crack.  Congrats on flipping water trucks, maybe I should look into that.   

[campbellgroup]

There is no crystal ball of real estate but to say that you are going to make $20,000 on every deal is the fantasy of every investor. To actually make $20,000 one every deal is the reality of fantasy. Do the #s . Do whats right. and hope for a paycheck. Thats the way I do it.