Each property needs carpet and paint. The second is already rented at 950/m. The 3% is the RE agent fee (the seller’s wife is the RE agent and has already listed the properties.). Give me your opinions.
House 1
original asking price: 95,000
comps: low side. 117,576
repairs - 4,000
Agreed price: 87,000 74% of ARV
3% - 2,610
assignment ; 1,000
my buyer cost after assign/3%: 90,610 77% of ARV
spread after costs: 22,966
House 2
original asking price: 85,000
comps: low side. 113,600
repairs - 4,000
Agreed price: 76,000 67% of ARV
3% - 2,280
assignment ; 1,000
my buyer cost after assign/3%: 79,280 70% of ARV
spread after costs: 30,320
House 3
original asking price: 60,000
comps: low side. 100,177
repairs - 4,000
Agreed price: 60,000 60% of ARV
3% - 1,800
assignment ; 5,000
my buyer cost after assign/3%: 66,800 67% of ARV
spread after costs: 29,377