#Linces key house flipper Pc
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#Linces key house flipper simulator

If I was not an agent I would have more costs and the rule would have been farther off. The 70% rule did not work out to be enough of a discount on this property and I am a real estate agent.

If I figure in a $25,000 profit, I should buy the property for $78,000. I usually want at least a $25,000 profit on my low-end fix and flips (under $125,000 purchase price). My financing costs will be about $8,000 with my financing terms and loan costs.Īs you can see when I subtract all my costs, I have a break-even point of $103,000. I will have insurance, utilities, and lawn maintenance while owning the house I estimate those costs at $2,500.

#Linces key house flipper plus

Selling the house would cost me a 3% commission plus title insurance and other closing fees approximately $6,500 (My selling costs are going to be lower than most people because I am a real estate agent and do not have to pay a listing agent). I always add at least $5,000 in unknown costs to my known costs on a flip. If $150,000 is the value of the home after the repairs and $25,000 in repairs are needed. Occasionally I will use the 70 percent rule to see how my numbers match up and sometimes I am very close to what the 70 percent rule estimates. On the above deal, I would write all my costs and see if the profit potential was worth the risk. I like to write out all the numbers and decide on a deal after seeing my profit potential. I rarely use the 70 percent rule when deciding on whether to flip a house or not. Here is a calculator I made that figures the 70 percent rule for you.īelow is a video that explains it as well: Do I use the rule? Buying a house for $80,000 that will be worth $150,000 may seem like an awesome deal, but you have to remember all the costs involved in a fix and flip. If a home's ARV is $150,000 and it needs $25,000 in repairs, then the 70 percent rule states an investor should pay $80,000 for the home. The ARV is the after repaired value and is what a home is worth after it is fully repaired. The 70 percent rule states that an investor should pay 70 percent of the ARV of a property minus the repairs needed. The 70 percent rule can be a very helpful guide but it is not something I would write in stone and never deviate from. Don't feel bad if you don't know what it means, because I had never heard of it up until a few years ago and I have flipped more than 200 houses! The 70 percent rule is a way to determine what price to pay for a fix and flip to make money.

The 70 percent rule is a common term used among many real estate investors when flipping houses.

#Linces key house flipper simulator

A simulator game that allows you to clean, remodel and sell a variety of houses. Download House Flipper varies-with-device. During the fun we join in the essence accepting.

#Linces key house flipper Pc

House Flipper Download – House Flipper Download PC Investor-builder simulator. Give them a second life and sell them at. Buy, repair and remodel devastated houses. House Flipper is a unique chance to become a one-man renovation crew. SELLING MY $5,000,000 VILLA! If you enjoyed this video check out gaming videos here: SUBSCRIBE: Check out my MER.