1st Lead Analysis
1st deal analysis, does this seem about right for my 1st flip?
After running comps (I'm still new at running comps through MLS, I could e-mail my process to anyone that might want to check my work, that would actually be great)
Estimated ARV - $133,000
SOW/Rehab cost - $40.460
Holding/Selling cost - $19,655
The owner has mentioned 85K to 90K as asking price, which is not going to work. I'm going to offer 50K and go no higher than 55K.
When the owner started talking price I just told him I needed to look at some comps in the area. I didn't try to negotiate at all with him. However he has made a point to stay in touch with me, so he's motivated.
I know these numbers are vague to look at in a forum post but I do have all this information in greater detail in anyone would care to take a closer look at it, which again would be great.