Posted by JHyre in Ohio on February 15, 2001 at 06:55:21:
First deal is too skinny…for $12k, you should be able to create notes with face value of $24k to $36k. $12k is alot to have in a home, even if you’ll net $18k. Generally on cash deals, I expect to at least double my money after ALL expenses…lot rent, finder’s fees, etc.
On the second deal we don’t know the FMV of the home…though my instinct is that $8k is too much to pay unless you can get at least another $8k CASH AFTER expenses. You need to find cheaper homes.