Updated over 8 years ago on . Most recent reply
Denver Flip Opportunity
Assignment of Contract for large ranch home in Denver!
ARV is $560k with recent comps to back it up. Subject property is in a quiet cul-de-sac and has one of the largest lots in the neighborhood at .39 acres.
Estimated repair budget is <40k - mostly paint, changing the bathroom cabinetry and updating fireplaces. The sunroom would require the most work and is not counted in square footage.
We can provide photos from our visit to the property and the comps. Please email us at [email protected] or call 720-446-9968.
Most Popular Reply
To add on what @Bill S. said: Going by square footage especially out of the "neighborhood" is dangerous. Each neighborhood really is different, and you have to really analyze them to get a feel for what homes are selling for in it.
Look at 3400 Dayton. It sat for a month, dropped its price, and now I bet the contract is even lower on it. I'd say maybe $500k in the spring frenzy. This home is going to need a lot of work to get to that level. AND your home backs to an apartment complex. Is a $500k buyer going to want to live behind a complex? I wouldn't.
Furthermore, this home is "active" again on the MLS. Nothing is preventing me or anyone else to go after the home directly below the price you show above. I have done this a few times for myself and clients.
Stop wasting your time trying to find "deals" to wholesale on the MLS. You are competing against 1000s of seasoned investors. Go out and find your own; You'll be paid quite a bit more.