Fix and Flip Property Analysis Help
I found a property in Seattle that I believe could be a good fix and flip.
Asking: 567,020
Est. ARV: 1.2M
My partner is leery because of the following reasons:
1. ARV May be inflated (I'm getting a second opinion on it)
2. Property values have fallen 3.5%
3. Although it is near schools, they are poor rated schools
4. High personal crime
We intend to potentially hold the property for 4 months to renovate.
My partner is looking at the property with the same factors as though she will be living in it to estimate marketability to the next buyer. Is she being overly cautious? If so, what should I tell her to ease her mind?
Is the property value decrease a big concern as the threat of a recession looms?