Updated almost 6 years ago on . Most recent reply
Offers and counter offers
Question? First property. Asking 400,000. Property needed about 200-250,000 rehab. Offer 290. Seller 350. Is 310 a good offer? Comps in the area Mid 500- mid 600.
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@Michele Sidney it's simple subtraction
...if comps are in the mid 500s, the property needs $250k in reno, and you pay 310, you lose $50k to $100k. You'd need to pay less than $200k for this to start to make sense