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Updated over 5 years ago,
I may have my first deal, not sure how to proceed.
I went to look at a property today. It is a property the seller had bought to fix and flip themselves, however, the husband has recently died. I would estimate that the renovation is 70-80% complete. Current comps would put the ARV at 125000, the seller is asking 80,000 but said she would negotiate. I have not tried to negotiate, mainly because I'm not confident in valuing the ARV or estimating repair cost. The large ticket items that would need to be taken care of are a new outside hvac unit and a pool that either needs to be filled or repaired. I have contacted a couple of contractors to give me an estimate but havent heard back from them, and I want to go ahead and lock the deal up asap. Any advice would be greatly appreciated.