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Updated over 1 year ago,
What is your expected profit as a percentage of ARV? Average Reno Cost per sq. ft.?
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.