Posted by jasonrei on December 30, 2003 at 20:32:43:
$69475 assumes 6 mos or less holding time and $105k sale. Looking for $13k minimum profit.
If I had a private lender lined up I could go $72475.
What would be the most you would pay? - Posted by trapper
Posted by trapper on December 30, 2003 at 14:41:01:
REO, Townhouse, needs 6k worth of fixes.
2 bedrooms selling for 95k to 105k.
3 bedrooms selling for 105k to 115k.
This is a three bedroom end unit.
Should take 4 weeks to fixup.
Just curious on opinions of the most others would pay given all my numbers are accurate and that theese sell fairly quickly. Financing and cash are not an issue.
Thanks for any opinions.
Re: What would be the most you would pay? - Posted by jasonrei
Posted by jasonrei on December 30, 2003 at 20:29:06:
Max of $69475
Re: What would be the most you would pay? - Posted by adamliebs
Posted by adamliebs on December 30, 2003 at 18:31:03:
I would think $67,500 would be my maximum offer. MAO=ARV x’s .7-repairs.
67500=105000 x’s .7 - 6000. Probably won’t get the deal for that amount but that is the most you should offer according to the gurus.
74,500 if you want to use the 115k as the ARV. Just my two cents.
Good luck
Adam
Re: What would be the most you would pay? - Posted by JD
Posted by JD on December 30, 2003 at 17:30:27:
80K
Re: What would be the most you would pay? - Posted by Brent_IL
Posted by Brent_IL on December 30, 2003 at 16:58:15:
$70,000 first offer; $74,000 max for the three bedroom end unit. I don’t do major rehabs, but $6,000 repairs is something that I run into. My thought is $100K for quick sale; $10,000 transaction costs on both sides; $8,000 (6 + 2) cost of repairs and labor because I’m usually wrong; $8,000 profit because experienced rehabbers say never to work for less than the amount of the repairs.