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Updated about 5 years ago on . Most recent reply

User Stats

25
Posts
2
Votes
Daniel St cyr
  • Rental Property Investor
  • Margate, FL
2
Votes |
25
Posts

Should I change my analysis to find deal?

Daniel St cyr
  • Rental Property Investor
  • Margate, FL
Posted

HI BP.

Please help me in that analysis . I'm looking for property to fix and flip in Florida. Every time I make an offer people either complained or got made because they think I offer too low. And I use the BP calculator fix and flip, sometimes I don't do the comp.

I use realtor.com zestimate price for the ARV, I used 10% of ARV for my profit,10% of ARV for my down payment, plus the H.money lender interest, plus the 2 points, I used 2% of ARV for buying in closing (I used ARV because I don't know the buying price yet) ,plus 3% of ARV for selling in closing, plus realtors agent fee 6% of ARV, plus holding price (rent X month), plus the REHAB cost . The result of this is my MAX ALLOWABLE OFFER price.

I can't see where I'm wrong there can you guys that's been there and done that tell me where I'm wrong here.

If I'M WRONG PLEASE EXPLAIN

IF I'M NOT WRONG PLEASE EXPLAIN

Most Popular Reply

User Stats

67
Posts
28
Votes
Alex Young
  • Flipper/Rehabber
  • O'fallon, IL
28
Votes |
67
Posts
Alex Young
  • Flipper/Rehabber
  • O'fallon, IL
Replied

Never use the zestimate for your arv!  its algorithmic, used for general public knowledge. if you are trying to invest ... I would never rely on anything but my own research 

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