Example is huge repairs, bad neighborhood, huge decline in market value.See if you can meet some buyers that might be interested, and negotiate the short for them if you have the expertise.

ask and ye shall receive ) My bid at 45% of ARV ( minor repairs of fresh paint and clean carpets ) was approved...

Here are the details:The Asking price is $229,900Taxes are $6595.00Apt 1 - Lr, Eik, 2 Br, Fbth (Average Rent - $1200 - $1400)Apt 2 - Lr, Eik, Br, Fbth (Average Rent - $700 - $900)Bank wants buyer to pay transfer tax.I have no estimate on repair costs since I haven't actually seen it or had an inspection.

You should be able to find a HML who will go 60% of ARV (after repaired value), maybe a little higher.

Hello all,I normally do single fam, so I wanted a quick hand with numbers on a deal I'm considering.Location and repairs aside, strictly by numbers, what do you guys make of this deal:Single house, 3 fam:- 2 bed/1 bath- 2 bed/1 bath- 2 bed/1 bath- 2 car garage- separate metersTotal rent is $2,500.Monthly taxes are $320What would be a good estimate for monthly expenses (50% rule??)

I would research what the other REO's are selling for compared to ARV (after repair value) and how long they were on the market.

In order to resell, I'd perform about $5K of foundation repairs and some minor cosmetic work.

I'm thinking $2,500 per property should be set aside for repairs, etc...keep in mind I have a 12 month home warranty on the homes.What do you think?

Can someone suggest a good way to estimate repair costs, or should I just stick with quotes from multiple contractors?

Property needs $74,000 in repairs.