Tarek Elmoussa flipping
Why do I feel like Tarek Elmoussa is paying way too much for the houses he flips on his tv show? Like is he even using the 70% rule when it comes to ARV?
I watched this episode where he actually paid 420k for a house that asked 450k. 4 bedrooms and 3 bathrooms in Long Beach California. Comps were in the high 600k. It was a vacant. And repairs were up to 155k
I did my numbers and I would say max price should have been 160k but he paid 420k!!!!
What am I missing here?
Thank you