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Updated over 8 years ago,
Do you find the calculator tool result to be reliable?
Good day, everybody!
I recently found an Orlando area SFR in need of rehab and used the BP calculator for the first (trial) time. I will show you the numbers that I used, most everything coming right from the listing. Using the numbers below, would you help me understand the result? I know the calculator form asks for way more input, and I didn't have more. I also don't know where to even find that much more information at this point, which could be the entire problem, I don't know that either.
Asking price: 64K / ARV: 110K / 1086 sf / Built: 1986 / Tax per year: 1110 / Estimate rehab: 28K / Estimate contractor's payment: 25K (my number) / Estimate fees and commissions: 1K (my number)
The calculator suggests that Max Offer be about 48K. How would YOU make sense of it? My brain's pinging all over the place trying to come up with...this?...that?...this + that?...something else?
Also, I have not purchased the unlimited calculator feature yet, so I only have 4 'tries' left. Maybe if I played around with it 20 more times, something would click, but in the mean time, I am just trying to figure out if I should buy access to it at all. Comments and suggestions will be greatly appreciated!