Our first deal of 2014 went under contract today! MLS listed property that we acquired using the 25 to 1 system. I got an accepted offer on December 31st for $245,000. 81.5 % of ARV minus repairs. We assigned the contract today for $252,000. Closes January 10th. $7,000.00 to us.
ARV is $350,000
Rehab/remodel is $40,000
83.5% of ARV minus rehab is what my buyer paid.
We got another MLS listed property under contract this morning. Will be sending it out to my buyers list tomorrow. 25 to 1 works!!
The numbers on this one are:
Our buy price $409,000. 83% of ARV minus repairs.
Rehab/repairs needed $50,000
Will ask for $10,000 assignment fee
Buy price to my buyer $419,000.
Buyer will pay 85.5% of ARV minus rehab costs.