Updated about 6 years ago on . Most recent reply
I’m a newbie is this worth it
Looking at a deal 60k but i talk her down more to 50 she may not budge past 55k. Arv 90k but repairs not over 10k. It’s hour half away. I’m desperate 😂 need 1st deal
Most Popular Reply
#1 General Landlording & Rental Properties Contributor
- Rental Property Investor
- Durham / Raleigh (Triangle), NC
- 753
- Votes |
- 806
- Posts
#1 General Landlording & Rental Properties Contributor
- Rental Property Investor
- Durham / Raleigh (Triangle), NC
Well, I try to avoid doing anything while desperate, but I think one of the formulas (70% Rule) is ARV*70%-Rehab=Offer. So that would be $90,000 * 70% = $63,000 - $10,000 = $53,000 offer price. So if you're sure of the ARV and you're saying rehab is less than $10K and you can get the seller down to $55K - you may be close. But where do you think that ARV is headed? Where does the property sit in the path of progress? I bought a few property in 2017 based upon similar numbers and they are now worth double.
- Jonathan Taylor Smith
