I would like some help evaluating a deal I'm considering making an offer on.It is a 3bed/2bath and probably needs 15000 in repairs.It is not in bad shape.Has new stove and roof and new master bathroom.It is a foreclosure and the price has been lowered to 189,900. The recent solds are: 152900,200000,255,000.The recent contacts are:179000 and 199900.Actives are 299900,225000,249000.Im not sure if I should base my ARV on the recent solds or the actives.The recent solds are foreclosures that are being rehabbed.I figured about 225000 to be ARV from the neighborhood and 65% of that 146,250.Once I minus repairs, double closing and a fee for me of $10,000 from the 146,500 I come up with 118,750 which I would consider a great deal.I don't think the offer will be accepted and I am sure there are other investors in the neighborhood submitting offers.I need to know how much I can offer and still make a profit and get the offer accepted.I will be wholesaling the property to another investor.Any help you can give will be great. I would like to pursue this property and it will be my first deal.Tnaks so much!Jo Ann
I would like some help evaluating a deal I'm considering making an offer on.It is a 3bed/2bath and probably needs 15000 in repairs.It is not in bad shape.Has new stove and roof and new master bathroom.It is a foreclosure and the price has been lowered to 189,900. The recent solds are: 152900,200000,255,000.The recent contacts are:179000 and 199900.Actives are 299900,225000,249000.Im not sure if I should base my ARV on the recent solds or the actives.The recent solds are foreclosures that are being rehabbed.I figured about 225000 to be ARV from the neighborhood and 65% of that 146,250.Once I minus repairs, double closing and a fee for me of $10,000 from the 146,500 I come up with 118,750 which I would consider a great deal.I don't think the offer will be accepted and I am sure there are other investors in the neighborhood submitting offers.I need to know how much I can offer and still make a profit and get the offer accepted.I will be wholesaling the property to another investor.Any help you can give will be great. I would like to pursue this property and it will be my first deal.Tnaks so much!Jo Ann
Jo Ann
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