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Updated over 2 years ago on . Most recent reply

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7
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1
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JL Potts
1
Votes |
7
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Beginning Investor. Help with numbers

JL Potts
Posted

I am trying to learn the numbers to not waste anyones time, lenders, agents etc. Could someone break down why a property with an asking price of 200k, arv of 310K and repairs of about 30k is a bad deal?

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492
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125
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Richard Loniewski
  • Real Estate Agent
  • New Jersey
125
Votes |
492
Posts
Richard Loniewski
  • Real Estate Agent
  • New Jersey
Replied

I use the simple formula first: ARV x .7 - repairs = Max offer

If that passes I use Deal Check (simple and if you add in the numbers) it will give you all the details. I use all the time for flips and holds, very customizable. Great tool. I don't have time to go through all the math! LOL

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