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Updated over 2 years ago on . Most recent reply

Devante Henry's profile image
Devante Henry's profile image
Devante Henry
  • Member since Apr 23, 2022
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Devante Henry's profile image
Devante Henry's profile image
Devante Henry
  • Member since Apr 23, 2022
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Devante Henry
15
Votes |
19
Posts
Rehabbing & House Flipping

Not sure if it would be a good deal

Devante Henry
Posted

Seller won't go lower

buy price at $265k and the arv is about 400k but it needs at least 60k in rehab. Could be a good flip, what is your advice get it or leave it?

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James Dainard's profile image
James Dainard's profile image
James Dainard
  • Real Estate Broker
  • from Bellevue, WA
  • Member since Sep 15, 2015
  • Posts 415
  • Votes 1,894
  • Experience 18 Yrs
  • Investments 160
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415
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James Dainard's profile image
James Dainard's profile image
James Dainard
  • Real Estate Broker
  • from Bellevue, WA
  • Member since Sep 15, 2015
  • Posts 415
  • Votes 1,894
  • Experience 18 Yrs
  • Investments 160
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James Dainard
  • Real Estate Broker
  • Bellevue, WA
1,894
Votes |
415
Posts
James Dainard
  • Real Estate Broker
  • Bellevue, WA
Replied

Hey Devante!

Have you tossed it in the BP flip calc?

What're your holding costs on the property and what's your renovation scope/timeline?

Do you have your contractors lined up?

Figure those things out and you'll know if you've got a deal on your hands!

Good luck!

  • James Dainard
  • Podcast Guest on Show Seeing Greene: Paying Off Rentals, Partnerships Splits, & Using Home Equity
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