If so, do you think that the numbers they quote for specific renovations are accurate or is there a % that I should adjust to get a more accurate number?

Information listed with each property including estimated loan balance is derived from sources deemed accurate but we do not guarantee the accuracy of such information.

IF and this is a big if, you are accurate on your reahb costs, dont use a realtor to help you sell the place (my formula uses 6% of sales price) this place can make money.

I can personally determine an accurate ARV for any property I am looking at directly from sales comps that I research.

My terminology and description may not be *legally* accurate but the concept is correct.

lolGlad to see my little words are taken to heart by some of the guru's on the site.The thing I wanted to add to my quote is one word that looms in everyone's vocabulary, that is capable of killing EVERY deal you look at:[size=18][/size][b]COMPROMISE[size=12][/size] In my dealings, the first set of cost numbers I run are usually the highest AND most accurate (not saying they are realistic).Investors, and mostly new investors fall into the Compromise trap.The numbers don't look good, you take another look at what's involved in the deal and search for area's you can cut costs without any real basis for doing so.You say to yourself, "All I have to do to get my profit up is use less expensive materials and do some of the work myself so I will save on labor."

You need to find a comparable size house (bedrooms, baths, and square footage) with similar attributes and in the same area to be able to accurately determine its true value.Then you would need to determine an accurate estimate of repairs/updates needed to sell the property for that area.

If you don't have construction experience then I would recommend networking with a contractor to bid some of your more promising potential deals to give you accurate estimates.

Also in a rural area, I would take a hard look at how long other houses stayed on the market and how many expired listings there are.The numbers sound good if they are accurate.

In any transaction the key is to accurately factor in ALL of your costs so you know you will make money on the transaction.