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Updated over 14 years ago on . Most recent reply

Dan Duran's profile image
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Dan Duran
  • Wholesaler
  • from San Francisco, California
  • Member since Dec 30, 2008
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Dan Duran's profile image
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Dan Duran
  • Wholesaler
  • from San Francisco, California
  • Member since Dec 30, 2008
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Dan Duran
  • Wholesaler
  • San Francisco, CA
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Real Estate Deal Analysis & Advice

Is there a deal here?

Dan Duran
  • Wholesaler
  • San Francisco, CA
Posted

Hello,
Any advice on this deal would be greatly appreciated. I usually take over properties subject to and flip them myself. I have one now that is too skinny for me and would like some advice on what else I could do.
Here is the scenario: ARV is between $350K and $360K.
They owe $280K and fix up would be at least $50K. It is a big house in a desireable area, and they would want to sell it before the bank takes it in early October. If anyone has any suggestions, they would be greatly appreciated.
Thanks,
Dan

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Steve Babiak
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  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009
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Steve Babiak
  • Real Estate Investor
  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009
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  • Audubon, PA
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Uwe,

Jon Holdman has a really good post in this next link explaining how that 70% formula works:
http://www.biggerpockets.com/forums/88/topics/45749-more-arv-formula-explanation-please

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