Hey everyone! I hope you guys are doing well, especially anyone in the hurricane region who might have been or have family/friends who were affected by the recent hurricanes. Tonight's post is because I submitted an offer on a house that I posted about a while ago. I had found it by driving for dollars and contacted the owner. The property is pretty rough now...but it's a DIAMOND in the rough. The area is highly appreciating. Also, I just saw on the news that there are future plans for a light rail stop to be located just around the corner from this house. Here is my calculation and offer: 75% of ARV - repairs = Max Allowable Offer 75% of $270,000 = $202,500 Repairs: $132,000 (it needs EVERYTHING) New HVAC, electric, plumbing, roof, water heater and everything in between. My offer: $70,000 I will keep you posted. If the owner accepts my offer, that's great and I will take you with me for front row seats of how to renovate a property! If not, I will look for another one.

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