I was thinking of moving into a livable house that needed updating and minor repairs, living there for 2 yrs then renting it out.

Loan amounts are based on the after repaired value.

My sister just bought a house at an auction for $25,000 it needs about $15,000 in repairs.

My current plan is to possibly bring a contractor and/or an appraiser with me so that I can get a rough estimate of repairs, confirm the current value, and obtain the ARV.

My current plan is to possibly bring a contractor and/or an appraiser with me so that I can get a rough estimate of repairs, confirm the current value, and obtain the ARV.

It is a good rule of thumb though)Take that and reduce it by the amount of your repairs and all of your acquisition costs and an error margin( I always use 10% of the cost of repairs for those little uh ohs).

Hello,I was wondering if anyone would like to know how to find "Professional Tenants" for their investment property and no have and have no issues with repairs, taxes, managment?

Try to work the entire deal from property search to the ultimate sale of the property after repairs are done.

Budget Planning etc...From what I've been readin on here you want to buy at 70% ARV minus Repairs.

4) If you got a loan to bring the taxes current and do the repairs, could you rent it high enough (and consistently enough) to cover the mortgage and other expenses?