How to find ARV on a fix and flip

[Brian Young]

Looking at a house in Texas that I’d love to rehab and resell and I just had a few questions.

How would I know how much to budget for a rehab?

(Would I need to schedule a showing with a realtor and have contractor on site at the same time?)

Also how would I best be able to find out ARV on a property?

(Would this involve mainly a realtor checking comps in the area?)

Also is it normal when getting a loan for the property to get a loan amount For purchase price and rehab cost combined or do I need to front the rehab cost?

Thanks again for your time and responses!

-Brian

[Mike Sedlacek]

The loan amount will be based on the appraisal when going to a bank for a loan. Look for a hard money lender or a private lender for a loan and rehab costs. The ARV can come from a realtor using comps is the easiest way for you to get one. The rehab costs can come from bringing a contractor with you for the showing so he can quote you a price. If you are going through FHA for funding they have a program for rehab costs included in the loan.