Am I missing anything here or is this the formula?
Listing price $75,000
Estimated Market Value after repairs are made $110,000
Repair cost estimate= $10,000
Holding cost estimate (mortgage & insurance) $600 x 12 months= $7,200
Closing costs- front 3% $2250 end 3%- $3300= $5550
Realtor fees (FSBO) - 4% = $4,400
After Repaired Value= $82,850
Offer 60-70% of ARV- (Low $49,710- High $57,995) profit of $24,855- $33,140
(minus 15% capital gains tax of $3728.25- $4971.00 for a net profit of $21,126- $28,169)