Roof: $8,575 est
Kitchen Renovation: $27,000 est
Vinyl Plank Flooring: $5,000 est
Bathroom Renovations: $11,000 est
Bedroom Renovations: $42,000 est
Fire Damage Repair: $12,900 est
10% contingency to cover miscellaneous expenses: $10,647
Here's the calculation:
ARV: $267,045
Renovation cost: $108,547
Desired Profit for the Flipper: $35,000 min
Calculate Flipper investment and profit:
Total Investment- Purchase price: $105,566 + Renovation cost: $108,547 = $214,113
With an After Repair Value (ARV) of $267,045, the profit for the flipper would be:
Profit = ARV - Total Investment = 267,045 - 214,113 = $52,932
So, the flipper would make a profit of $52,932. This exceeds the minimum desired profit of $35,000, making it a potentially attractive deal for the flipper.