So after 10 years with experience of real estate in the country that in the last two years I also combined experience…
So after 10 years with experience of real estate in Israel that in the last two years I also combined two years of experience with real estate abroad through lenders
Here comes the moment for my first deal that I purchased on my own from A to Z
1. I found the property alone through a local wholesaler without Israeli brokerage
2. I received a renovation offer from a contractor on my behalf before purchasing
3. I received two COMPS offers before purchasing
4. I consulted with professionals from the country and abroad who confirmed that the numbers line up nicely and according to the plan.
Now I have to choose
1. Sell the property AS IS with a small profit - before escort.
2. Renovate the property Minimal renovation and rent at least first year.
3. Renovate flip over and sell in the project's estimated half-year finish.
The numbers are in percentages
1. I bought 61% percent of the advertised price of silo (which is not the most reliable) and 52% based on two different COMPS offers.
2. Renovation of 18K RENTAL according to the seller and also against a proposal from a contractor on my behalf.
This conclusion brings me after a renovation to a percentage of 76% according to Zilo and 64% according to Comps from two different professionals in Israel and abroad.
From here, I have to decide
A. Rent for myself or my escrow paid to the investor, at approximately 15% before expenses
B. Flip estimate of 28% in half year period
what do you think ?
Edit: Details of the deal for rental for those who are interested AS IS photos are attached
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Edit: Add transaction details photos AS IS to anyone who wants to purchase the property
You mentioned that it took about half a year.. Is that what you expected in terms of the length of time for the flip? Is the area good? Will it be easy to rent and will the tenants be good and will it be fairly simple or difficult to manage?
Can explain where do i get comps data?