paying appraised value before arv
(I am a newbie and this is the 3rd house i've pursued ) this may be the obvious to some. Is it wise to pay appraised value? recently got a lead, the guy who has the property is a flipper and says that he does a couple a flips a year, the house is a 4bd 2ba garage and 2 levels, in a very decent neighborhood. For example the house is appraised at 100k and that's his asking price to sell it in the middle of his rehab as is, with the work he has already done he quoted 20k to finish it, ( this does not include my fee), the house has potential to sale for 150-160k which was his numbers, I also did some home work and it seems that he is right (I don't have a realator to pull comps so I done what was advised by "gurus" and use other resources). All input is greatly appreciated!! Thanks