just looked at this property today. 3BR 1.5 bath, RR, 2 car garage. Intention is to Rehab then Sell. 4months
Listing price is $112,900
repairs 7k, paint, carpet, tile, some trim, etc. i have good general laborers
houses in this neighborhood sold from 112k to 140k.
avg. days on market for area is 32 days.
ARV is 123k.
I plan to offer 80k
1,200 holding cost
6,200 payment on loan after 4 months
8,400 realtor fee to sell and closing cost
1k loan apprasial, etc.
sell price 120k
pre-approved for a conv. loan at 7%, using HELOC at 7% for down payment and repairs.
I believe i have everything straight. repairs should take less than 30days. Comments plz, to make sure i have everything in order before my first rejection thx