Calculating ARV for Fix & Flip client

[Matthew Gallacher]

Hey everyone,

So just got a client that's looking to do a fix & flip in central Maine (Waterville, fairfield, skowhegan that area) and I may have found a potential deal. How do you guys come up with you ARV comps. Obviously look at solds in the area that mostly closely resemble the flip once its down but any other tricks of the trade you do to reign it in further and become more accurate?

[Harrison Smith]

@Matthew Gallacher I would absolutely pull recent solds to see what pricing has been. I would also pull current active listings because ultimately that's where pricing is at the moment and will also give you an idea of the types of properties your flip could be competing against. If possible, tour them to see what amenities they have to understand competition but also to understand the finishes or amenities you may need or not need to compete in this market. There is a lot to learn by understanding your competition to ensure you price and rehab it right.

Feel free to send me a message to discuss further if that would help. Best of luck!