OfflineI have found a property that is a bank REO here in CT. I would like to flip this property to a rehabber. Can anyone provide a formula to use to help me determine what I should offer the bank?
Any help would be greatly appreciated...thanks so much
Lori
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LORICT
Can not upload docs. Maybe I can put it on a server and link it in the mentor forum.
DG FAMILY PURCHASE EVALUATOR SPREADSHEET
1ST SHEET IS PROPERTY DATA. ADJUST LTV TO YOUR DESIRE.
2ND SHEET IS SUBJECT PROPERTY 3 MONTHS COMPS. ADJUST LTV TO YOUR DESIRE.
The key is to find 95% of list price is between 65% and 75% of FMV
Dave:
thank you so much for your generous contribution of your excel spreadsheet to calcuate offers, etc.!
It takes this kind of attention to the details that makes your offers honorable. When the bank or the selling agent asks how you came up with your offer, you can either show him your spreadsheet, which demonstrates research and knowledge, or you can just tell him how you came up with it. No mystery meat here!
Thanks on behalf of everyone! I know Dean's site has tons of forms to help us, but when we see your real one, it makes it easy to download and create our own!