*This link comes directly from our calculators, based on information input by the member who posted.
How do you go about using the calculators for a private money flip? The Fix and Flip calculator doesn't take the loan cost into consideration, so I used the BRRRR calc, but would likely end up flipping it..
This might be my first deal. Interested to hear your thoughts..
First.... congrats again! (Zach got engaged recently everyone!)
Second, got a couple questions about the flip:
1. What repairs are needed? Is this a contractor or your rehab number?
2. Did the estimated time for rehab come from contractor or just your est? Is that a conservative estimate?
3. How long are properties in this price point taking to sell in this market? Is it a growth market?
4. Seems like a lot of cash needed for the deal. The $45,900 is only 31% of ARV. The refinance section has a 70% loan which sounds about right, and maybe thats what you're figuring.
5. 9 month time to refinance. What is the cost for this, should you need to extend?
Thanks Kyle!! Much appreciated, I will keep these questions in mind down the road. This deal fizzled out.. couldn't make the numbers work with what the sellers were asking.