When was the last time you heard about a home renovation project that came in on time and under budget?

The reason I estimate $120k in repairs is because I want to increase the ARV and increase rents, which brings me to my next point:A 4-unit renovated comp with the exact same specs showed up on the MLS today for ~$1,600,000!

It’s gonna need some renovations, so I am excited for the chance to learn along the way. 

I have completed a few flips, some patch and paint and some are complete renovations.

The info provided is from a wholesaler Please note he states its a teardown and the asking price is more than the comps he provided which are larger properties than the subject property.SFR2 bed / 1 bath 792 sf Lot: 8,599 sfPickup Price: $475KEst Rehab: $775KAfter Repair Value: $1.8M ($450K per unit)Tear down existing home to build 4 brand new townhouses with 3 bed 3 bath and approx 1,500 sf each unitComparables: 12307 Cheshire St # A Norwalk, CA - 3 bed 3 bath 1,322 sf Sold Price: $435,000 14786 Pioneer Blvd Norwalk, CA - 3 bed 3 bath 1,483 sf Sold Price: $422,000 12309 Cheshire St # C Norwalk, CA - 3 bed 3 bath 1,142 sf Sold Price: $417,000

And there should be no imminent big CAPEX costs because SFH2 was recently fully renovated. 

It’s easier with 5+ unit as there are fewer guys doing a larger % of the deals where as with 1-4 family there are a billion brokers. 

For properties in disrepair that don’t qualify for a normal 203B loan, you can get a 203k which includes purchase price and a renovation.  

I am trying to determine if the purchase of this house is a good deal for tear down and new duplex construction  numbers are 105k for house $225k for renovations.

Welcome to Bigger Pockets.My wife and I are relatively new real estate investors in Hilo on the Big Island.We bought our first SFH earlier this year, we renovated and then rented it out.We close on our second fixer-upper in Hilo this week.