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Updated over 1 year ago, 05/31/2023
Need help just starting out
I’ve been out of a job for 3 months and with my girlfriend just losing her job we’re both ready to jump into real estate. I’ve always been wanting to jump into it but never have, and now I’m starting to take this serious and chase it.
I found a on market property selling for 102,950 3 beds 1 bath 972sqft when I run comps I’m only looking for houses that have been renovated to see what it’s selling at.
Comp 1 is at 179,100 3 beds 2 baths 1376
Comp 2 is at 139,000 3 beds 1 bath 1347sqft
Comp 3 is at 127,900 3 beds 2 baths 1298sqft
once I run comps I add up the prices of the houses and divide it by 3 to give me an average number of 148,666 and am using 60,000 for renovations all in at 208,666 and 70 percent of that is 146,066 and that is the lowest I can go to purchase the property? Any help would be very appreciated