Re: Flipping houses, how much profit to expect after remodeling?
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You have to buy the house at a steep discount to make decent money. Your purchase price cannot be more than 80% FMV minus repair costs, or you will struggle to make any profit whatsoever.
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This is true.
Except I don't even buy a property if it is at 80% of market value. 70-75% is the norm for me.
The only way you can profit by flipping a house is buying properties at steep discounts.
You can't arbitrarily raise prices of houses above what the market is willing to pay for it.
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