All Forum Posts by: Sharon Hernandez

@Rosston Smith thanks for clarifying, I used the wrong concept. Still, all of your insight is valuable to me as a newbie. 

@Cindy B.Im gonna check it out. Sounds good! And I still don't have an app like that since nobody I know can give me good reviews about them (mainly because nobody I know is on RE Investment). 

Here are the comps I used to determine if it was a deal or not. I want to get better at this!

1. 2951 Country Club Blvd, Orange Park, FL 32073

Bellair-Meadowbrook Terrace

$430,500 on September 19, 2016

4 bd

3+ ba

4,015 sq ft

0.44 acres lot

Single Family Home

2. 246 River Rd, Orange Park, FL 32073

Orange Park

$449,000 on May 25, 2016

5 bd

3+ ba

3,753 sq ft

0.38 acres lot

Single Family Home

3. 602 Thornwood Ln, Orange Park, FL 32073

Bellair-Meadowbrook Terrace

$385,000 on June 13, 2016

5 bd

4 ba

3,579 sq ft

1.0 acres lot

Single Family Home

Hi, here is an example of an actual deal. On this one the accepted offer is 230k. Is a Fannie Mae property. 

Financial Breakdown

Purchase Costs

Purchase Price:	($284,533.33)
Purchase Closing Costs:	($2,000.00)
Total	($286,533.33)

Rehab Costs

Total Rehab Costs:	($30,000.00)
Total	($30,000.00)

Holding Costs

Monthly Holding Costs:	($2,000.00)
Total Days Held:	100
Total	($6,666.67)

Sales Costs

Sales Price After Fix Up (ARV):	$430,000.00
All Selling Closing Costs:	($1,000.00)
Real Estate Agent Fees:	($25,800.00)
Total	$403,200.00

Total Profit for Flip

$80,000.00

Flip Hypothetical Profit If Held For...

45 Days	90 Days	270 Days
$83,666.67	$80,666.67	$68,666.67

Estimated Repairs Exterior Repairs RoofN.A.

ConcreteN.A.

GuttersN.A.

GarageN.A.

SidingN.A.

LandscapingN.A.

Exterior PaintingN.A.

SepticN.A.

Decks/PorchesN.A.

FoundationN.A.

Interior Repairs DemoN.A.

SheetrockN.A.

PlumbingN.A.

Carpentry / Windows / DoorsN.A.

ElectricalN.A.

Interior PaintingN.A.

HVACN.A.

Cabinets/TopsN.A.

FramingN.A.

FlooringN.A.

InsulationN.A.

General Components PermitsN.A.

TermitesN.A.

MoldN.A.

MiscellaneousN.A.

Total Repairs:$30,000.00

Return on Investment for Flip* 24.75%

Immediate

90.35%

Annualized

*Based on no loans or leverage

Thanks for the answer. I do wholesale as well as rehabs. I really try to look for comps that are just like you said: a recent sell that's a match and updated or recently reno so it really represents the ARV. But let me do what you suggested so I can post it here and have your feedback!

Thanks!

Hi! I would like to hear your opinions about how to most accurately calculate your ROI and how you decide if a deal is good or not. I do an average between the median of comps from info in Totalview, zillow, realtor.com,eppraisal; and apply 10/10/10 rule. How do you guys do ir? Is there any software that actually helps? Thanks for the info!