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I didn't mean a *net* of 90K in 10 days. I meant a 90K total profit in 10 days makes it hard to believe that all said and done, the profit would be reasonable.
I would think a "net profit" and "total profit" are the same thing. Do you not agree? It should be gross profit or net profit though they still aren't relevant when it comes to a homes worth.
Doesn't change my viewpoint that profit should be based on what the market will bear but it will help people if you can at least use correct terminology.
Your first response was fine. In fact, all responses have been fine. People get testy when they feel their livelihood is being jeopardized (at least that's me giving some the benefit of the doubt, otherwise people are just testy in general ) However, going back to the beginning of the thread and sifting through, it becomes apparent early on that the thread became derailed rather quickly. My question was -- how do flippers overcome the price history issue. The answer I got from about half of you was "it's not an issue, buyers *shouldn't* care about that." Well I'm a buyer and I can assure you, some of us do. And if you scan these pages carefully, you can see about 40% of replies are people who agree with me. Just because they're less vocal than those who disagree with me doesn't mean they're less valid.
Inaccurate. I stopped re-reading at post #40 and you need to read YOUR OWN replies.
You were told repeatedly: The answer to your question is COMPS. Even by me but you didn't like that factual answer.
I would think a "net profit" and "total profit" are the same thing. Do you not agree? It should be gross profit or net profit though they still aren't relevant when it comes to a homes worth.
Doesn't change my viewpoint that profit should be based on what the market will bear but it will help people if you can at least use correct terminology.
You made me second guess myself. I thought I knew what net meant but after reading this I looked it up. Turns out I was right. Net is the profit after you deduct expenditures. Total (I should've said "gross") is what I can see the flipper is trying to make. It is factual that the flipper is trying to gross 90K. What his net actually will be, I don't know for sure but as myself and others have expressed, it's hard to believe it'll be a reasonable amount in 10 days of work.
You made me second guess myself. I thought I knew what net meant but after reading this I looked it up. Turns out I was right. Net is the profit after you deduct expenditures. Total (I should've said "gross") is what I can see the flipper is trying to make. It is factual that the flipper is trying to gross 90K. What his net actually will be, I don't know for sure but as myself and others have expressed, it's hard to believe it'll be a reasonable amount in 10 days of work.
You had to look it up and you were right even though you "used the wrong word"??? HUH?
HOW IN THE WORLD do you know what is his gross and net????
And No, you totally ignored valid reasons why - such as the buyer having to pay additional expenses on the previous purchase that NOBODY KNOWS anything about just by these simplistic facts.
LIKE TAX LIENS. Which makes what you think you know invalid.
OR a family sale which I told you about 100 replies ago.
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) However, going back to the beginning of the thread and sifting through, it becomes apparent early on that the thread became derailed rather quickly. My question was -- how do flippers overcome the price history issue. The answer I got from about half of you was "it's not an issue, buyers *shouldn't* care about that." Well I'm a buyer and I can assure you, some of us do. And if you scan these pages carefully, you can see about 40% of replies are people who agree with me. Just because they're less vocal than those who disagree with me doesn't mean they're less valid.
