I have a deal I can buy at $699,000, the rehab will cost me $50,000 - $75,000. The ARV is $900,000 - $1,000,000.
I need help figuring out:
1. Purchase Closing Costs - I think this is around 1-1.5% of the sale price. Correct?
2. Sale Closing Costs - where do I get this number. (not including commissions)
3. Monthly Holding Cost - does anyone have a good average number?
Hi have you flipped before? Are you good with estimating repair costs?
Just from the little experience I have with rehabing I will always anticipate with going with your higher construction cost numbers and expect to go over your budget.
Especially if it's a larger house in LA with that high of ARV. What is the square footage of your house what area of LA is it in?