EVALUATING ARV, INITIAL PURCHASE PRICE, AND CASHING OUT. BRRR
Im in the process of getting to work on getting some bids from GC's and the plan right now is to shop around and get as many free estimates as i can. i was expecting the estimates to be rather high but the first estimate came rather high, almost what some of the fourplex's are going for. My question is
1. On severely distressed properties (hasn't been touched since 2015) how low of an offer do you propose?
2. What do you want your rehabs to cost? and what would be some of the easiest things to do yourself to save money?
3. How much net profit do you look for? ARV-(purchase+rehab cost)=X