Hey BP fam!
I'm working on getting my first deal under contract! A motivated seller just got back to me about wanting to sell & I have an appointment set to check out the property. As of now, it's unsure as to whether the property will be flipped or whether it needs to be a teardown. My question is, I know flippers take on properties that are 75% of the ARV (or better) but, what are teardown/new build investors qualifications for max offer?
Comps for other reno-ed properties in that area are 360k
New builds in that area are selling for upwards of 600k
So, if the property is deemed a teardown, how to I determine my max offer to the seller?
Thanks in advance guys!