10d • General Discussion
🎨 Cosmetic & Renovation Cost Estimates by Square Footage (1900–1970 Homes)
As wholesalers or Investors we find ourselves dealing with home owners who fail to see the truth about costs and estimates when it comes to handling repair work. I have provided a scale of these estimate based on properties YEAR BUILT from 1900-1970. Most Invetsors chase 1950, 1960 and 1970 builds becuase the ideal work falls between $35,000-$75,000 worth of work adding value and a larger ROI of 25% or more. This is known as the SWEET SPOT in real estate.
I have provided the estimates and ideal repairs costs breakdown based on those assumptions to offer you insight into what buyers see when handling a good fix and flip. This is just for reference for those of you working with fix and flip investors. As you close more deals this can prove helpful in determining your assignment or acqusitition fees by getting that clear picture on the cost associated when using a buyers % of ARV formula. Not every flipper will have the same formula, based on lender requirements, budget based on loan limits, current cash flow and expected ROI accoridng to their state or city level prices for materials and holding costs.
Let me know in the comments if this was useful information?
3
1 comment
🎨 Cosmetic & Renovation Cost Estimates by Square Footage (1900–1970 Homes)
powered by
Suggested communities
Powered by