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Updated over 7 years ago,
need help with sellers on flip
Hi everyone ! I need some help on a flip .
My cousin and his with got willed a house, the previous owner let the house go in pretty bad shape . We had it comped for them as is value was anywhere from $20000-$49,000 . It is a 3 bed 1 1/2 bath in a great market houses sell fast . I ran my rehab numbers and do do I complete rehab it was going to be $37,350 in rehab so I took the 70% of the arv 110,000 - rehab cost = max offer of $40,000 . The sellers are splitting profit 3 ways . I put in an offer at $33,500 to start and all they said was we want to do as much work as we can so we can get the most out of it . I tried explaining they need all new flooring carpet / vinyl smells like animal urine and it's all stained , needs ac unit and heat with duct work ran among a lot of other updates . My question is how do I get them to give me a number of what the are expecting to get for the property ? Thanks sorry it's a jumbled mess .