Disclaimer: This is not legal or investment advice. This tool can be used as a reference point but should not be the final decision maker for investing in a property.
After Repair Value:
After you perform the renovations, what will you realistically sell it for based on comparable properties sold (ideally within the past 6 months and within a half mile).
Purchase Price:
Your initial purchase from the seller before you start renovations.
Renovation Price:
Your target renovation price (Getting 3 bids from licensed contractors recommended).
Total Agent Fees Amount:
For each closing at purchase & resale, calculate the agent commission percentages into a total number.
Holding Costs (Loan + Utilities + Maintenance):
A minimum 6 months of holding costs is recommended to give you plenty of space to resell it.
Total Closing Costs:
For each closing at purchase & resale, calculate the total closing costs for each.
Total Profit Potential: