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How to Quickly Estimate How Repairs Impact Value
By reinvestor on July 1, 2015
So a motivated seller responded to your marketing and wants to sell you their house. Now what? How do you estimate fair market value? The cost of repairs? Your all-cash offer price? Today Matt tackles these questions and gives the formula that will allow you to craft your offer quickly so that you can secure the property under contract. Enjoy!
What You’ll Learn:
- Why you don’t want to spend too much time estimating repairs.
- How to determine the fair market value of the investment property.
- The multipliers Matt’s team uses at Cash Flow Savvy to do a quick and dirty estimate of different levels of repair costs.
- The formula to determine your all-cash offer price; and
- What to do if the seller doesn’t agree with that price.
- When and how to solicit a more official estimate for repairs.
- What to do if you originally underestimated the cost of repairs.
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