What’s the best way to estimate ARV?
Can you trust Zillow?
I found a property and came up with this:
ARV 93,000
70% 65,000
Est repairs / fee 20,000
Max price to offer 45,100
Potential Profit for Rehab 27,900
30%
With an ARV of 100K & depending on the area and condition I wud start at 30-60% of ARV.
If its boarded up and in the middle of skank alley I might start at 20%
A 3/2 built in 1960 that’s rented I wud offer no more than 75%-80% of ARV
The repair estimates I use are as follows, good condition 10 Grand, Bad 20 grand and really bad 40 Grand.
If you can get a junk house on contract for 50% of ARV you can add 10- 15K for your assignment fee.
If you want to jump into wholesaling without an education I admire that, a great way to learn fast is by doing.
Thanks, sent you an email