she doesn't have a RE license.
Bullocks! Not needed and not necessary. Just make sure you have a good real estate lawyer. They will handle the entire sale for you for a few hundred bucks, more or less, depending on where you live (around here, going price is around $350).
Just yesterday, I closed on a property I purchased three months ago. I found a buyer and turned everything over to my lawyer. She handled everything from the contract to closing, and all I had to do to close the deal was drive down to her office, sign a few papers and pick up my check.
Also, a successful flip will bring you 6-10% after it is all said and done.
Then you ain't doing it right! I won't touch a property unless I can get at least a 15-20% ROI. The above mentioned property I closed on yesterday got me a little less than 80% ROI (ie: I almost doubled my money). I typically average somewhere in the 45-55% range and have never got a return less than 23%.
WARNING: These results are only possible if you are patient and do the proper research to find the right deals. I will typically research 1000 properties only to find a handful that I would consider worth my while and worth the risk. If it's marginal, let it pass.. there will be many more to come along.
PS: The ability to sell a property depends entirely on what you are asking for it and what the market will accept. Don't be greedy. Getting a little less than you want will result in faster sales and quicker turnover. Fair market value is the price at which an average property in the area will sell for within 90 days. If it takes longer, you are probably asking too much.
Cheers,
Brad
