FIRST DEAL, Any input is welcome

[Wes Brumit]

Need your input. Jerry Puckett deal analysis John Jackson . Ok guys, I have a seller where we have agreed on a price of $23,500 for a home with 1268 sqft and an additional closed in garage bringing the total sqft to 1508. I based my ARV of $45 per sqft on 5 comparables sold a maximum of 6 months ago and no more than 2 miles away. Repairs I estimate at no more than $15,000. I haven't determined yet my profit, just because I wanted to get opinion from BP community first, especially you guys. Do you think I have the numbers correct?

[John Jackson]

@Jerry Puckett may very well have better info than me..but..in my 10 years of experience...converted garages equate to 1 of 2 things....

net zero or net loss ...

Normally a net loss...

You can't simply add 400 sf to the size because the owner closed in the garage and added crappy carpet.

Normally the buyer would rather have the garage..