Need help estimating rehab on property ASAP!

[Diana Rivera]

I have someone who is an absentee owner with an older sick father that is interested in selling in Long Beach.

Zip 90806

3/2 1445 sq ft.

Property is on a busy street which I know it’s not a plus. By Pacific Ave and 28th street. 

Has been renting for 14 years to the same family and so that was the last time he remodeled. Did new flooring at the time as well as replaced Sheetrock with drywall, new pipes, kitchen, double pane windows, and HVAC system.
Plus 5-6 years ago put a new roof.

Based on 3 comps I pulled the ARV of his house is $553k. propstream says valued at $581k. After multiplying by .70=$387,100 . I believe usually for repairs it's common to multiply $100/ sq ft ( for LA/Los Angeles area) but based on the upgrades he has and it being in Long Beach ( about 20min from LA) and all do u recommend a lower number per sq ft.? Otherwise I'll be offering him 1/2 of what my ARV is.

I really appreciate any feedback anyone can give. Thank you in advance.

Diana Rivera

[Collin Chan]

@Diana for your first wholesale deal, maybe try to find an experience flipper/rehabber here on bigger pockets in your area to work with and figure out a wholesale fee that would be appropriate for you and they can help you through analyzing the property construction costs, doing the construction, and overall project so you get paid to learn a lot about the business first hand. :)