All Forum Posts by: Michael Mannino II

As long as you plan accordingly to your market, there's never a bad time! Just make sure you understand what your ARV is and material costs. I totally agree with @William Harvey that a lot of wholesalers and investors have stopped, which is going to open up a lot more deals for those of us who continue. Just be smart about your numbers, have a solid system/team in place and you will do great! 

Hi Michael! You'll want to know on average how much $ per sq ft the house is going to cost to rehab for the cosmetic repairs (kitchens, bathrooms, paint, floor, etc + labor). You'll then also want to have an idea on cost for bigger things like roof, windows, foundation issues, electrical, mechanical, plumbing (well/septic?), etc. If you get a good system in place for yourself from the start, this becomes a very quick process and you will be able to scale your flipping business much more easily. DM me if you'd like, I'd love to chat more about how we do this in our business!

We estimate about $35/sq ft for a cosmetic rehab, obviously if it needs major fixes like windows, roof, mechanical, etc. that would be an additional expense. We then use this formula to come to our purchase price offer: (ARV x 0.70) - rehab costs = purchase price. We also have a really cool system to price out all of the items we use, DM me and we can chat some more about it! I sent you a Connect btw! :)