Real Estate Rookie Don’t Get a Real Estate “Mentor” Until You Try This (Rookie Reply)
Aug 8, 2025
This discussion tackles the tricky world of property valuation, especially when bedroom counts don't align. The hosts weigh in on the role of mentors, suggesting that community and different resources can be just as beneficial. They also explore the pros and cons of getting a real estate license, highlighting potential benefits for house flippers. Plus, the essential functions of real estate agents are examined, showcasing how they can make or break transactions.
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ARV Drives Rehab Limits
- ARV is the property's value after your planned renovations.
- Use ARV to set your rehab budget and avoid overspending on repairs.
Use Appraisals To Price Extra Bedrooms
- Get local appraisals to see how much appraisers assign per extra bedroom.
- Use those appraisal adjustments as realistic ballpark figures for your ARV.
Avoid Arbitrary Bedroom Price Tags
- Don't use blanket numbers like $10K or $20K for bedroom value across markets.
- Base bedroom adjustments on local appraisals because market context changes value.