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Updated about 3 years ago on . Most recent reply

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22
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Yusuf Sarii
2
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22
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calculating arv help

Yusuf Sarii
Posted

the property (82 oriole street rochester ny) i got an arv of about 130,000 but an investor told me the arv is way lower than that.

i dont really understand why he said that and im using propstream.

can anybody agree that this arv is 130,000 

Most Popular Reply

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527
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David Lee Hall, III
  • Rental Property Investor
  • Pittsburgh, PA
511
Votes |
527
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David Lee Hall, III
  • Rental Property Investor
  • Pittsburgh, PA
Replied

Photo is all 4 bed homes sold in last year around your target. There is 1 sold above your ARV. Without even looking at photos, I would guess you are either high, or alternatively in an area that doesn't do flips, and needs to be priced as a rental, which would be a Lower ARV with lower rent ready rehab not flip quality. The 125k house is not much worse than the 165k house, and the 100k house isn't much worse than that. So if I am pricing what is a 30+ % swing with similar finishes, odds are I am running with a lower ARV to avoid getting burnt. Additionally I may know my contractors do a B job not A job, so I know my product always sells lower and warrants a lower ARV. So I can definitely justify it in 5 minutes w/o even knowing Rochester. Seems to mimic much of mine just looking for a few.

  • David Lee Hall, III
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