Hello Ethan. I live in West Palm Beach and am a fix and flip lender. Its not a BAD deal... but at that purchase price plus rehab budget, I would expect the ARV to be a minimum of $196,200. Ideally... at a $149,500 purchase plus a $14,000 rehab, you would want the ARV to be $210,250.
Flipper/Rehabber · Davie, FL · Member since 2016 · 101 posts · 136 votes
7y
A property that's has an ARV of $190k in WPB is likely in a D neighborhood. If you're holding it as a rental, you might make out ok in the long run but probably won't get great tenants.
If you’re planning on flipping it, you’ll hopefully break even. After closing costs on the purchase AND sale, holding costs, property taxes and possible interest costs of borrowing any amount of money, there isn’t any profit left. This of course is assuming you don’t have any gotcha’s during renovations which NEVER happens.
Hello Ethan. I live in West Palm Beach and am a fix and flip lender. Its not a BAD deal... but at that purchase price plus rehab budget, I would expect the ARV to be a minimum of $196,200. Ideally... at a $149,500 purchase plus a $14,000 rehab, you would want the ARV to be $210,250.