Flip calculator/budget question/West Virginia
We are brand new and are in the process of gathering all the data to arrive at our maximum total offer allowance. Before we present our full plan and the all the numbers to our "coach", I want to be sure I understand one thing-where does my cost of repair money come from? The flip calculator allows me to arrive at my "maximum allowable offer " of $85,000.Here's the calculation I used: AVR ($200,000), minus 20% for profit margin, minus 10% misc costs, minus cost of repairs($50,000) = max allowable offer of the $85,000. So, do we get financing for just the $85,000(max offer) or $135,000 (to cover repair costs as well)? Common sense is telling me $135,000 but am I missing something?