OfflineHey DG Fam.
This weekend I learned something very valuable and it is what will make or break a deal. When you are running your numbers in a deal be sure you include these two things.
Holding costs and Money costs ( interest for loan or private money)
Those two things I never considered when running the numbers to present to my Cash Buyers. I usually did ARV, Taxes, Insurance, Rents, Comps, Closing costs ( both transactions) Property management, Maintenance. But I totally forgot about Holding costs and interest on any borrowed money.
Just something I wanted to share that I learned in case any of you have made the same mistake.
Good Hunting!!!!
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
I can see how these would be two things that would be easy to forget.
Thanks for sharing.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
I would have left them out also.
Good information thanks for the advice
Kingston Investor
Thanks for the heads up Info.
Tony
God Bless!
"With God All Things Are Possible Matt. 19:26"
"Give a Man a Dollar he's Rich For The Day, Teach a Man To Make a Dollar
He's Rich For Life" - T. Grant
This is what I really love about this site. When one learns something that can benefit others, they are willing to share that knowledge. Good luck with your investing.
great advice; I'm sure most of us would forget to include these costs for our buyers too!
Learning and progressing every day,
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
I am glad to share what I learn:) Its how I learned and I want to pay it forward:)
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com