What to look for in a flip deal

[Brian Bisdorf]

Curious about what you look for in a property to make an offer.

Minimum amount of profit after all costs?

ARV percentages?

SFH, Duplex?

How many sources do you pull leads from?

[Brent Sweet]

Quote from @Brian Bisdorf:

Curious about what you look for in a property to make an offer.

Minimum amount of profit after all costs?

ARV percentages?

SFH, Duplex?

How many sources do you pull leads from?

 I look at comps first to see if there is even any way to make it work.  I then work backwards from there.  If it's a wholesaler I try to do at least a drive by and try to guess as much as possible what needs to be done.  I always err on the side of let it surprise me that it doesn't need that.  Like one deal I just looked at and didn't do I figured flooring throughout but it actually had pretty good wood floors that could be saved without all new flooring.  Then I try to navigate how negotiable the seller is.  Typically through a realtor they are trying to get right about what it appraises for now and there is rarely any margin there PLUS you never know the unknowns.  I don't have a specific number though.  I mean I'm going to make it worth my time but if I worked it out and could get 10k in 30 days and it's the only lead I have had in a bit then I'd do the deal.  As long as it isn't tying up resources that prevent me from a 60k deal.