Updated almost 15 years ago on . Most recent reply
Make some sense out of this...
Bank was asking $44,900.
ARV= $90k to $105k
Rehab=$25k to $28k
My offer= $39,800
Winning Bid=$54000.
Had to be a cash offer. House is not FHA ready.
This is about offer #14 that I have been blown out of the pond on since my last deal.
Don
Most Popular Reply
ARV is 90 to 105> That is a huge spread!!
If you are looking at sub- $50K deals, you can you reasonably expect to net $25 to $30K? In my market I would be lucky to get $20K. In this property value range, it is about volume.
In addition, you may also be competing with rental investors who may have a long-term strategy. This is very common in my market.
If your getting beat consistently, you may need to tighten up your numbers a bit, or look at a different property value range.