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Updated over 8 years ago, 09/06/2016
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Flip House in Texas
Hey everyone. There's no greater group of analysts in my opinion than bigger pockets members.
Here's an extremely nutshelled analysis of a deal my investment company is doing.
The market is Lubbock, TX. We purchased a property for $80k with a tax appraisal of $129k. After renos and based on comps in the neighborhood, we're projecting resale around $62-$63/ft.
Square footage came in at 2,400 roughly. E estimate $30k in Reno costs.
My question is what are some tactics we can use in order to $30k of profits on this deal. We're getting bids than have ranged from 20k-35k on renos. Originally our realtor told us 2,700 on square footage. Essentially, we went from a great deal to a good deal.
What are your thoughts based on this very limited information I've provided. If you want to discuss personally in more detail, just DM me.
JC