The Importance of Estimating ARV and Repairs for Flips
Tuesday, June 30
Below we have an estimated ARV of $200,000 (Table 1) on our flip. The derivation of the purchase price depends on your profit requirements. Typical real estate gurus/seminars will say to get the property for 70% of ARV and then less repair costs. Others start with the amount of profit they want t...
In Flipping Houses, “Hope” is a 4-Letter Word
Friday, June 19
I was watching a flipping show last week about first-time flippers. On this episode there was a husband and wife team. The wife was asked about the ARV. She replied that she hoped it was worth X amount. She was a real estate agent by the way. Then she was asked about the repair budget and she aga...