OfflineHi Guys,
I have a deal in covian ca. 3/2 Sqft is 1,182 the arv is $370,000 the pp $291,500 (including my fee). Repair cost are $25,000. let me know if your interested or have a buyer so I can send you the address.
Thanks
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Sweet Wholesale Deal
Posted on: Sat, 12/29/2012 - 02:22
Sweet Wholesale Deal
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- by chonglis1
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First off, you should fill out your bio page.
Second, this deal looks like 5% ROI at best. Pretty skinny!
Here are the numbers
Sell for $370,000
Holding and selling costs based on a 90 hold only. If it takes longer, profit decreases. Commissions, closing costs, insurance, taxes, utilities, any cost overruns = 10% - $37,000 Not to mention any money costs!
Rehab - $25,000
Buy price - $291,500
Net profit $16,500 IF the rehab and ARV numbers are accurate. They usually aren't! AND if the buyer is 100% cash and has zero money costs.
I might be a buyer at $271,500.
Good Luck,
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Welcome to California...86% ARV - repairs
Hey, CH~
REHAB at $25K equals $21/sf...
Is this itemized by actual bids or a ballpark guesstimate?
Investors on average are looking for 70% discount or better...
(ARV X .70) minus (Rehab costs) = Buyer Price
Plug in your numbers...Or is that $291.5K at 80% ALL IN?
What kinda fee ya got in there? LOL
I'll take it for $234,000...
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
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