Found a Few Houses

Rehabbing Offer

Wow… I have been very busy lately, but that’s ok. I have been doing some research on a few possible flips. Each house looks very promising, so I will see what happens when I make an offer.

Remember when you make an offer; make sure your offer is a minimum of at least 30% below the FMV (Fair Market Value). The 30% is your margin to cover rehab cost, hold and profit. Before the offer is accepted, inspect the property for what needs to be fixed. Do a visual inspection, and then get some professionals to inspect it after you’re done inspecting it yourself. If you find some things that needs fixing that wasn’t disclosed by the owner, you can post an offer to the owner of 30-40% below FMV depending on the severity of the problem. Once the offer has been accepted, roll up your sleeves, pay the owner and get to work on the project.