Finally, presuming that you’re using an agent to sell your home, keep in mind that some real estate agents will want information from the listing agent. If a buyer agent contacts your agent, he might be looking to exchange sensitive information to get the sale. You and your agent should have many discussions on the subject of trust and power negotiating. The importance of trust between a seller and his agent simply can’t be overstated!
Making Money on Flipped Houses
Determining whether a property will make a good flip depends largely on figuring out the After Repair Value (ARV) . There’s a simple formula for this:
property’s current value + value of renovations = ARV
For the current value, you should use the purchase price. The renovation value is a little trickier to manage, although the more properties you flip, the better handle you will have on these numbers. Particularly when you’re new, a real estate agent, appraiser, or contractor can help you get more accurate numbers. A good ARV involves looking at comparable properties (or comps) near the property you’re considering flipping. While you can do this on your own, an agent, such as myself, can also help with this. I can put together a Comparative (or Competitive )
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