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Here’s a deal that seems almost too good to be true. This is a quick analysis, but the ARV is conservative, and the purchase price is the listed price. Am planning on doing most of the renovations myself. Any obvious errors in the calculations? Thanks in advance.
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
6y
@Reagan Huefner can you really get the ARV up that high with just $15K in repairs? And can you really get $900 a month for it? Or are those just guesses?
Contractor · Roosevelt Utah · Member since 2019 · 37 posts · 12 votes
6y
@Nicholas L. Since we are planning to do most of the renovations ourselves $15,000 should cover the material costs. The ARV was based off of several COMPS nearby the highest being 120k the lowest about 75k. I think 90k is pretty conservative. If the ARV comes in low we could hold onto it and just rent for slightly less cash flow.