Updated about 6 years ago on . Most recent reply
What makes for a good renovation lead?
I work for Opendoor(largest nationwide Ibuyer) and we are looking at generating an investor lead email in the Atlanta area.
Two questions
1. How should we adjust for finished basement sqft with respect to coming up with the range of $/sqft that a neighborhood can support?
2. What sort of information would you want to see in an email of that type?
Our current thoughts:
Subject address and details.
Recently renovated comps in the area.
-Don
Opendoor Data Scientist
Most Popular Reply
This will be interesting to watch as Opendoor (just from running across their listings) usually pays like 95% ARV and hope their fees make up for the slim margins. So those aren't good deals for any investor.
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For your question about basements, everyone may have a different metric. To make it simple, I take average price per square foot sold of a non-basement house and halve it. So if a house with no basement is going for $100/sq ft. I use the same $100 for livable space and $50 for basement. If unfinished, more like $10-$15.
I've found that will get you close, but if the basement is super nice, all bets are off. In GA, we love basements.