[Calc Review] Help me analyze this deal

Most Popular Reply

Karolina Powell
Member since 2021 · 107 posts · 82 votes
1y

How are you coming up with the ARV and the rehab costs? If this was my first deal, I would go step by step and put in a cost for each part of the estimated repairs

1Reply
See this reply in the discussion

5 Replies

Jump to latestLatest
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @L Jones:

    View report

    *This link comes directly from our calculators, based on information input by the member who posted.


     Are you paying 100% with your own cash? You have no money in there for carrying costs.

    You are also missing taxes, insurance for the property.

    Closing costs of $1500 also seem very very low, closing costs are typically 2-4% depending on location.

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • L Jones
    OP
    NC · Member since 2024 · 4 posts · 0 votes
    1y

    No I'm wholesaling this property and trying to get the numbers as close as possible. Those numbers are based on the info in bigger pockets. I asked for help because this is my first deal. Any suggestions on the numbers I should be using. I will modify if needed. Thanks for your help

    0Reply
  • Robb Rafferty
    Member since 2024 · 7 posts · 1 vote
    1y

    I like the way your calculator presents the deal.  

    However, I think your rehab costs will be higher and always are in my experience.

    I am a believer in enumerating and listing all costs and expenses in detail backed up with quotes.  

    0Reply
  • Karolina Powell
    Member since 2021 · 107 posts · 82 votes
    1y

    How are you coming up with the ARV and the rehab costs? If this was my first deal, I would go step by step and put in a cost for each part of the estimated repairs

    1Reply
  • L Jones
    OP
    NC · Member since 2024 · 4 posts · 0 votes
    1y

    I live out of state, and I don't know the cost of the things that need to be done in that area. There is a new roof, windows, and walk in shower, that is it. I know there is foundation work needed, painting, new floors, cabinets, and appliances. I did the repair cost by the SQFT of the house for major repairs needed. There is a back porch that could be closed off to add square footage to the home as well. That ARV is based on the home across the street that just sold for the 395k without as much lot size and 2 other comps within 2 miles of the property. I got an estimate to have the trees removed and I just reached out to a realtor with a contractor in that area to get me some estimates on those repairs today. Learning as I go. Please Please Please, if you have any other thoughts or suggestions, I welcome them. I don't want to mess this up! Thank you for the info

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free