Real estate fix and flip

[Duece Slade]

Hey Guys Duece here this one is for you guys that do fix and flip. I wanted to know do you guys figure out the ARV of property's by yourself or do you have a expert do it for you to reduce the risk of being far off ? And what type of exit strategys do you guys use if things don't go as planned ?

[Sid Leibowitz]

I agree with Guy. About 6 months ago I was selling a SFR in a hot area. all the local real estate agents said that it would bring no more than 700K. I suspected that they were all short and that there were no other properties to comp to. I did clean up and put on the market 1 mil 50K. There were 80 people at the open house. there were many curiosity seekers and brokers also there.when the smoke cleared we were down to 3 serious candidates. First one fell out after waiting 3 weeks for off shore money financing, the second tried to use a inspector to squeeze the price that they claimed the property was in need of rehab. It was totally livable. We disqualified that one and the third candidate was a charm and the deal went through. 1 mil, 50K..

If you are experienced then go with your gut. Do not let the local brokers dictate or convince you that they are the best and yhey have a handle on the value of properties in the area. Many are just just listing realtors trying to stay active with MLS and not working to personally market and close Your deal.