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Updated over 6 years ago, 03/28/2018
Sheriffs Auction Advice
When you are running the cash flow analysis on a sheriffs auction property what dollar amount is a good estimate for repair costs? I know its a pretty vague question but is there a general amount you would use (based on units/property size).
For example it is a single family property and since it is a sheriffs auction property I was not able to view the inside of the home. I drove by the house a few times and everything on the outside is solid and wouldn't need any repairs. I noted things like a clean yard which would make me make the assumption that the inside has to be somewhat similar.
I used $10,000 in repair costs when running my cash flow analysis.
Any further advice in regards to buying foreclosed properties, specifically sheriffs auction tactics is greatly appreciated!