What’s a good starting point ?
Good afternoon Investors, I have an appointment coming up soon. The house ARV is 223k. The home has had some repairs done to it, probably needs another 10-15k in repairs at most, I haven't walked the property yet, but the owner granted permission to walk around the premises. Has nice flooring and new windows. The home is a 4/3 and about 2,400 sq ft. The owner is eager to sale as it's one of his last properties and he no longer wants to put money in the home. He said I caught him at a great time as he wasn't ready to sell the property prior. He's an investor himself and understands what I'm doing as far exit strategies; so there's no underlying secrets and he's not hurting for the cash. My question is what would be an appropriate ‘fair' number to start/end with? Would anything under 100k be absurd ? Need feedback and insights. Thank you.