I am getting ready to put a house under contract and need to know if it is a good deal.
Asking: 38,000.
repair: low 6,000. High: 8,000.
ARV: 60,000.
If anyone could help me out, I would appreciate it.
Assuming that your numbers are right:
$60,000 X 70%= $42,000
$42,000 - $8,000 = $34,000
$42,000 - $6,000 = $36,000
You’re in the right neighborhood…I would go in with an offer of $32,000 and see what they say.
Keith