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Updated 2 months ago, 10/15/2024

User Stats

28
Posts
9
Votes
Shayan Sameer
9
Votes |
28
Posts

Fix & Flip Deals

Shayan Sameer
Posted

Hello Team,

I'm new to this group and hope to get the professionals' advice. I did a couple of fixes/flips last year and am now looking to do another this year. Most investors follow the 70% rule of thumb (ARV x 70% - Rehab cost = offer price). I've been trying to use this formula but lost some excellent deals. I know other investors bought the property and sold it after a rehab and still made money. I wanted to know what other investors want as a profit on each flix/flip.

I found another property that my wholesaler sent me today. I've included the details below. I'm not sure how much I should offer for this property. 

Asking price: $399k

Rehab: $65k

ARV: 570k

The roof was replaced in 2024, the water heater in 2019, HVAC in 2019.

The house looks to be in good condition..., but will need some cosmetic repairs. 

I'll be working with a hard money lender.  

Appreciate all the advice. 

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