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Updated over 1 year ago,

User Stats

40
Posts
8
Votes
Anup Jung Karki
  • Rental Property Investor
  • Dallas, TX
8
Votes |
40
Posts

Run comps for a house/ ARV

Anup Jung Karki
  • Rental Property Investor
  • Dallas, TX
Posted

Good Afternoon,

I have a two story 3bed 2bath 1962 built house under contract for 295k in Irving, Tx. The house needs significant work i.e.

Foundation is off by 5 inches,

Replace whole plumbling & redo bathrooms,

Leak on roof,

Put a new HVAC,

Turn a room into a bedroom.

My question that's a lot of capex so, the price of the house is below market value and we are buying as is, however after we did inspection it's a lot of big ticket items that's required to be fixed and need to put alot of significant work and money. How do I know ARV & run comps myself? Do realtor give estimate off certain website?

Note: Foundation company quoted me 33k to fix the issue.

Thank you. Looking for suggestions!!

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