Wholesalers ARV and Repair pricing

[Brandon Cronkhite]

Hey BP Fam, I’m about a month and a half into my pursuit of my first fix and flip in the DFW area in Texas. Here’s my issue, I’m finding plenty of opportunities and what I’m finding is that when I personally go out to the property my repairs opinion is coming in 20-30k higher than what the wholesalers are figuring. For example:

home ARV based on average comp: 250,000

My opinion to gut and renovate: 75,000

My offer: 130,000(250k x80%, -75k repairs)

Wholesalers list: 160,000 

Wholesalers Repairs: 30,000

-So what am I missing? I figure it’s one for two things: 1-I’m seriously misdiagnosing repairs, or 2-I just have to keep going until I find the deal that matches my numbers. Any and all opinions and suggestions would be massively appreciated!