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Updated almost 9 years ago,

User Stats

19
Posts
3
Votes
Matt Munn
  • Investor
  • Claymont, DE
3
Votes |
19
Posts

Max offer price for a buy and HOLD income property

Matt Munn
  • Investor
  • Claymont, DE
Posted

Hi BP! This is my first post, and I'm really excited to get some feedback from some more experienced investors here. My question is as follows...when considering the purchase of a fixer-upper property to fix, hold, and rent, what would be a wise max offer price in order for it to be a "deal". 

I was thinking of using the basic formula of 70% of the market value (based on comps) minus the estimated repairs.  Is that too extreme? Would 85% or 90% of the market value minus repairs work as well considering my intention is to hold and not to flip? Or would that be foolish?

Thanks!

Matt

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