I'm an investor and keep coming across luxury 1 MILL dollar plus homes within my area, (So. CA.) that are great deal. Some have around 150k equity within them? Up until now I enjoy had to ratify on them, any ideas?

Does anyone know anything in the order

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I totally agree with the first response.

Send me an example of an address you see and I'll see if in attendance is any money to be made. If so, we'll work out some type of finder's fee for any properties you come across that I ending up negotiating the purchase.

Regards

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Having to both salary application duty?

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That's firm to say. You haven't indicated if they are fixers or of late distressed sellers.

If this is a rehab, I would probably exceed. People at that level enjoy an expectation of what they will get when they spend that much money. There isn't alot of room contained by there for error and when you are doing a rehab, you lately never know what you are going to uncover.

You also own to keep within mind the holding and marketing/closing costs (typically 15%), so you can see the risk reward isn't really there. Are you have to get a unsullied mortgage for this? That is going to cut into that equity a bit if you are 100% NOO financing.

As a real estate investor on homes similar to that, I always look at the "great deals" comment and know that if it be truly a great deal, it wouldn't be on the open market for as long as it probably has be.

Homes at that price level own alot of swing price wise, so at the come to an end of the day you may be paying retail. But since nearby is some play in the price, come at it $150K beneath that. That is approximately 70% of retail and then you own a deal that you hold many option in how to spawn money from the transaction from.

Know your criteria when you are doing real estate investing: know what is a settlement and what isn't. Study your neighborhoods and pricing.

Bottom line, you can fashion that much on lesser priced houses lacking as great a risk.

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