Newbie Investor Walks Thru Potential Rehab With a Pro [Rookie Real Estate Investor Deal]
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In this YouTube video, the speaker and his colleague explore a potential rehab property that has been vacant and condemned for over three years. They discuss the property's condition and necessary repairs, including the driveway, sidewalk, siding, yard decoration, missing siding and soffit, and the need to clear out the property. They estimate the cost of repairs and suggest a budget for each area, including the kitchen, bathroom, basement, and systems such as the air handler, furnace, water tank, and AC. They also discuss how to calculate the maximum allowable offer (MAO) for the property, taking into account the after repair value (ARV) and rehab budget, and factoring in a variable percentage based on the condition of the area. They use this formula to negotiate with the wholesaler and offer $75,000 for the property. The speaker emphasizes the importance of having a clear exit strategy for the property before making any decisions and considering any fees if wholesaling. Overall, the video provides a detailed overview of the process of rehabbing a property and calculating the maximum allowable offer.
In this YouTube video, the speaker and his colleague explore a potential rehab property that has bee