What is your expected profit as a percentage of ARV? Average Reno Cost per sq. ft.?

[Kimberly Bunch]

What percentage are you all expecting to make per flip. I'm new(ish) and set my original desired profit on my first 3 flips at 10% bc I wanted to get in the game and get experience. Each home sold $550K and I made about $55k on each in 4 months each. I'm wondering what other investor numbers look like? My first two properties came from MLS and my 3rd came from a wholesaler. I'm curious if starting to market to off-market properties if I may be able to get a higher margin.
Also, I have been paying about $100/sq ft for total gut reno. Again - would love to know others experience. 
I am in Cobb County, northwest of Atlanta for reference. 

[Scott E.]

I never run the numbers on my rehabs on a cost per square foot basis. But just did the math on the past couple I've done and they ran almost exactly $100/sq ft as well for total gut reno's. This is with some high end finishes and includes the landscape package.

Percentage of ARV for the profit is also something I never look at. Each deal I look at individually and decide whether it's worth my time based on:

-How extensive the remodel is

-How quick my contractors can finish the job

-How confident I am in the sub-market and the comps

-How many other deals I have going on at that time

-Etc etc etc

Your 10% profit number isn't a bad target. It has done you well so far. But as you gain more experience you'll probably bump that up to 15-20%.