@Jonathan Greene
To answer your question John I may be naive but this is what I know best to my knowledge to answer your question.
-I would find the tapir cost using light, average, and heavy.
~”light” is carpet and paint
: >1,500= 10k
: 1,500-2,500= 15k
: 2,500-3,500= 25k
: 3,500-5,000 = 30k
: <5,000= 40k
~”average” is carpet, paint, kitchen, and bath
: >1,500= 25k
: 1,500-2,500= 35k
: 2,500-3,500= 45k
: 3,500-5,000 = 55k
: <5,000= 70k
-“heavy” is everything brand new
: >1,500= 50k
: 1,500-2,500= 75k
: 2,500-3,500= 90k
: 3,500-5,000 = 100k
: <5,000= 120k
- to answer your second question, my understanding is basic but that I’d due to me still learning. I can’t learn everything at once so I know some but not fully on this yet.
- to explain the wholesale process, it falls down to a motivated seller that is wanting out of a house that needs rehab or is not livable. You the wholesaler use the rehab calculations to find a price in which you could offer the seller while still getting an assignment fee and still making your new buyer/rehab we happy with the price they are getting.
- though my understanding is basic due to lack of mentorship, real estate finding interest in properties, land, or any other type of building or housing in general. These spaces could make for great future or current investments.
- in short, yes I do know what arv is=“after market value” to calculate this you add the rehab cost plus what other houses like yours have sold in the city/neighborhood around your house. You could get this information from local realtors or local property investors that know that market.
-and to answer your last question, I don’t have a current funding source if I can’t sell the house but in my purchase and sale agreement I would use a 10 day contingency that I could use to back out of a deal if I could not find a buyer because if the house hasn’t been sold in ten days. My offer probably doesn’t make sense to other buyers
