Is this house upper-fixer or just a good deal at 80% - renovation

[Imran Syed]

Hello everyone,

I could really use some advice on a real estate opportunity I'm considering. I have my eye on a house that's been on the market for a while, and it definitely needs some work before it can be rented out. The estimated cost of renovations is around $30k, but once it's all fixed up, the property value would likely increase to around $260k from the current asking price of $200k.

I'm having a hard time figuring out the right number to offer for the property. If I just renovate and rent it out, I know I would make a good return on my investment. But I don't want to overpay for the property, and I'm not sure what a fair offer would be.

I'm hoping some of you more experienced investors out there can offer me some guidance. How would you approach this deal? What factors should I be considering when coming up with an offer? Any advice would be greatly appreciated! Thank you in advance.

I am thinking doing getting 80% of the property value after renovation and subtracting the 30k.