Let’s just get right to it. Shall we? I found a property I think I can flip in about 60 days…

Property #10036  – Horn Lake, MS.  is a blue house with siding 3 bedrooms /2 bathrooms with a single car garage.  No rehabilitation is needed.  It should appraise for about $117,000.00 and I think I can negotiate it
wholesale from the owner for only $79,500.00.

Don’t forget our ”secrets” in the Real Estate game!  Always pay less than what a property is worth.

I estimate the monthly mortgage to be around $756/month PITI (Principle, Interest, Taxes & Insurance)  and this house will rent for $975-1075/month, which leaves at least $229-$329/month positive cash flow. 

Here is another “secret”! If you rent, make sure your cash flow is positive after repairs.

Now – we first see about either the financing or the cash for the house ($79,500), then we talk to the seller to see if they will take it. Cash is king and money talks! If I bring cash to the table, people are more apt to listen to me!

 I’ll let you all know how it went this week.