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Updated over 7 years ago on . Most recent reply

User Stats

60
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35
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Taylor Nunn
  • Zion, IL
35
Votes |
60
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Selling your 1rst property

Taylor Nunn
  • Zion, IL
Posted

After taking initiative, landing the deal, and successfully completing renovations, how can you be sure your property is going to sell?

Most Popular Reply

User Stats

187
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256
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Chris Jensen
  • Rental Property Investor
  • Bettendorf, IA
256
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187
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Chris Jensen
  • Rental Property Investor
  • Bettendorf, IA
Replied

@Taylor Nunn I would recommend starting with the end in mind. When you find a property that looks promising, work with a real estate broker to conservatively estimate the after-repair market value (ARV) of the property that's supported by plenty of comps. That should give you a fairly reliable selling price. Then see what expected profits are after estimated deducting purchase, rehab, and selling costs. If you're comfortable with the estimated profits, and you have a reliable expected selling price, then it's probably a good deal. Hopefully that helps a little.

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