Updated over 9 years ago on . Most recent reply
Advice on this Deal
I've made an offer and it was accepted but contract has not been signed yet. The house did suffer some water damage during the recent Houston floods. I don't see much damage. About 17 inches of drywall has already been removed from the bottom from the entire house. The house is 1635sqft. I don't see any warping or damage to the cabinets or doors. Other than the drywall I didn't see anything else and owner didn't point out anything else. Tile though out the entire house. No inspection has been done yet. I'm guessing rehab cost of about $5k
So here was my offer: I offered $110k plus closing (no agent, not listed). ARV is $140k. Is this a good offer to start with? Can this be a good deal? Looking at possible flipping.
