Posted by: Investor ®
01/27/2003, 07:35:56
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Thanks Scott for your quick reply. So, I should used the assessed value of the property which was done in 2002 and add/subtract 10%. O.k. I have another question for you Scott. I purchased your Instant Cash Wholsaling Houses. On page 159 you talk about the LTV. You state the lower the LTV the higher the profit for the flipper and the more room you have for error. I am quite confused because I would think if the buyer states he has a 65% LTV on a 150,000 property that would be more profit for me,because I would have more money from the buyer to work with but if he states he has a 50% ltv on a 150,000 property that would mean that I would have to get my profit in there along with the closing costs, repairs, murphy's law,and the price that goes to the seller? I would think, the higher the LTV, the more profit for me, not the buyer, but it seems like you saying the lower the ltv the more profit for me,but I don't see that I see more profit for the buyer. Please elaborate! By the way, great book.
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