Hi, I'm a newbie on all of this, but have lots of friends to help me flip my first home for a profit. The question I have is how do you decide how much to pay for a house that needs to be renovated from an insurance claim that basically will involve replacing the kitchen, bathroom and hardwood floors throughout the house.
The homeowners will not be sharing the insurance settlement. They say they just need to let go of it. Real estate in the neighborhood goes for 90-125,000. So, how much should I offer to bring it up to habitable grade and still make money on my "flip"?:confused1:
The homeowners will not be sharing the insurance settlement. They say they just need to let go of it. Real estate in the neighborhood goes for 90-125,000. So, how much should I offer to bring it up to habitable grade and still make money on my "flip"?:confused1: