Running the numbers includes calculating the ARV, and estimating the following: rehab costs, closing costs (I use 10% of ARV, that will cover a buyers and sellers commission at 3% each and 2% closing costs on each of the buy and sale), funding costs, staging costs, insurance cost, property taxes while you own it, utilities while you own it  Other tips:Stage every house you flip unless we get back to a stupid market like we had two years ago where you got 20 offers on the first weekend at $50k over ask with no inspection contingencies.

This involves getting detailed estimates for all renovation work planned and adding a contingency budget (usually 10-20% extra) for unforeseen expenses.The Minimalist Approach for Rentals: If your strategy involves renting out the property, focusing on essential repairs and cosmetic updates can maximize ROI.

We made our purchase contingent on the claim going through and the work being finished, and by virtue of that we were able to offer her a higher price and have some of the reno already complete by the time we purchased and took over. 

What we have done in the past is write up a typical offer with a financing contingency, and in the financing contingency write up the seller financing terms.We like to keep the offer and the terms seperate.

Most offers were contingent only on a renovation manager or inspector’s field inspection to ensure the house matched the photos and there were no major red flags.

Assuming you have an inspection contingency, you can still move forward, but be prepared to spend some money on inspections and be prepared to back out when you ask for concessions that the seller won't want to make. 

Today, with about $40,000 in additional repairs, I am confident I can sell this property for about $1,600,000; at $1,400,000 it would probably sell in a few hours - all cash no contingencies 15 day close. 

Anyone who has gone through a successful ground up multifamily development please reach out, i would love to pick your brain on the process  Having just gone through a building project in the last few years in Whatcom County it is hard for me to adequately explain how difficult the County makes any kind of development.The cost for permitting and all the associated consultants for a project of any size will be quite significant and need to be budgeted for carefully with plenty of contingencies in my opinion.The strategy the county planning department uses is to make every effort to run up your costs and delays as much as possible in the hope you will give up and go away so development doesn't happen.  

Do you have contingencies banked into your rehab number for if something goes south?

MLS listing that we offered asking price plus no contingencies and remaining clear out of property post move.