Appraiser from Florida

1 Reply

Hello biggerpockets community. I am a commercial and residential real estate appraiser in Florida who is looking to expand my knowledge base on flipping houses in hopes of capitalizing on my valuation expertise. I recently came across an estate owned home that I have access to buy without utilizing any real estate agents. I know there is meat on the bone but I am clueless on how to capitalize on this opportunity/flip. I hope to gather knowledge that will give me the confidence needed to pursue deals similar to this...

@Chris Featherston - Since this home was a REO home, I am going to assuming it was distressed. In that case, you really have to look the asset physically.... have an estimate on what kind of rehab you want to do and a dollar amount & time frame. Also, play with some numbers and see which exit strategy is the best for your target property (Flip & Rental) see attached image, and we can see the property I was analyzing have a significant better return as a rental, I like to focus on indicators like IRR & NPV, ROI doesnt really say much but is nice to see. Therefore, the best direction to go was a rental..

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