How much money do make?
Hello everyone, I am working on a few deals right now, one of which I will resell for sure and the other I haven't decided yet. My question is... If I did decide to resell one or both of these deals to a rehabber how much should I calculate as profit for the rehabber when the property sells to the end buyer after rehab?
I have one property at the moment that needs A LOT of work so I assume the rehab will take 6 months roughly. If you were going to put 6 months of time and money into a property how much would you like to make on it? I am accounting for financing costs, closing costs and of course rehab costs. I estimate the rehab will cost between $80 and $95K. I'm not talking about a home run here but a solid deal for sure.
I am trying to calculate a fair asking price for the situation. Any advice will help!
Thanks in advance.