When you’re doing your feasibility, you need to base the numbers on today’s numbers.
What that means is, what you’re forecasting you will sell it for should be what you will get for the property if renovated and sold today.
You don’t want to fall in the trap of forecasting what it will sell for with future growth…
If a deal doesn’t stack up, you’re better off walking away from it and finding something else that does stack.
For me it’s always, in today’s world, if nothing changes, what am I going to be able to sell it for?
That’s what I base my feasibility on…
If the data looks strong and you get some heavy lifting from the market, then that’s a bonus!
