Offlinewe try to do the numbers making offer. but I don't know if did it right.
10 comps in the area with average $69740 SQ ft 1040 and about $15000-20000 rehab $66.9 per sq ft
Asking house is $79900, 1475 sq ft, 4/2 with 39 day CDOM WE do the number just want to know if that's right.
Offer: Asking price $79900
Retail (ARV) $98824.57
30 day sale price after rehab $86824.52
closing cost (15%) $12000.00
Repair costs $20000.00
Profit $21706.00
Wholesalers profit $10000.00
Transnational $3495.00
Max offer will be ****$28173.75****
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Be happy and go healthy ^_^
Ling and/or Dustin
offer. Here in Citrus County, Fl. if the property is listed for 55K & you offer 35K they just flat reject it.
Just go ahead and make the offer based on your guestimate of the repairs. Remember you have an inspection period in which to determine the cost of repairs. If it's a good deal, don't wait around too long trying to figure out the numbers because someone else will grab it! I have been guilty of doing this and then I turn around and someone else has it under contract.
Shirley
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Be happy and go healthy ^_^
Ling and/or Dustin