Conversations turn to debates when your wife is a contractor! #realestate #money #realestateagent

25 Aug 2023 · 1 min

Watch on YouTube

0:33

Short YouTube conversation between Steve D Valentine and another speaker about a specific property’s investment potential. They discuss an estimated $300,000 renovation, whether the property can be flipped to reach $900k–$1M, comparable sales (comps) suggesting dialed-in values near $700k for similar homes, and uncertainty about achieving $500k for a single house on a half-acre.

So this house has dual street frontage. You're thinking let's say you have to put 300 grand into this to like dial it in. Does it become a flip? Are we getting to the 900 to a million point?
I think you probably can. If it's done and it's done right, you've got two complete houses. So here's the question is, can you get $500,000 for a house on a half an acre, a three bedroom, two bath on a half an acre that's dialed in in this neighborhood?
No. The comps that I looked at you were for similar size actually for smaller homes you were close to 700 completely dialed in. No guest house, no anything on an more than 500? Yeah.
Okay, so if you can get 700 for that dialed in on a half an acre, then we're at 1.5 for the two of them.
I wish, I hope that'd be great.