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Renavatio

10/18/07 9:57 AM

#21752 RE: coydog #21744

No prob. Just let me know how I can help. For now though I suggest you start tracking the market with monthly MLS stats for:

1) number of listings
2) average days on the market
3) % of sales price to list price
4) average sales price

Try to get at least 24 months worth of data. Numbers 1 & 2 are more important. Put them in Excel and make a line graph out of them. Use common sense and you will be able to tell where your market is right now. A decent investment minded Realtor can provide you the stats.

Also, maybe contact a REIA close to you (http://www.creonline.com/real-estate-clubs/fl.html) and track down a quality wholesaler. My clients in Jax are picking up great deals. Just got off the phone with one of my regulars who picked up 2 houses at auction on Tuesday for $.60 on the $1. She'll pay cash, I will do a cash out refinance for her immediately. She'll walk away with 2 properties in her name, a 30% equity position after paying all the closing costs, monthly cash flow from rental, and more cash in hand than she put in. Repeat, repeat and you have a portfolio and monthly passive income.

Anyway, don't get me started or I'll go on and on...Real Estate is too much fun for me.

Here's to another good day in HMGP and UTYW...