Hey everyone,
Is this a good deal?
3/1 1200 sq ft SFH
ARV: $250,000
Repairs: Hard to say…I have not entered the home yet. It’s all boarded up but it was damaged by fire. Roof looks decent but not sure what the rest looks like. I have estimated repairs to be about $50,000 if I needed to gut the place and replace almost everything.
I am buying it for $90,000.
What do you all think?
$250,000*.7-50,000= $125,000 which leaves me with a decent profit. I am just not sure of that $50,000 for repairs.