Equity Spread
The instant wealth a deal creates: what the fixed-up home is worth minus everything you spent to get it there.
Equity spread is the value you create by buying and renovating: what the finished property is worth minus what you paid to get it there. It is the raw material of both flip profit and refinance headroom.
Example: ARV $290,000, offer $207,000, rehab $30,000 → equity spread $53,000 (18% of ARV). A negative spread means you are paying more than the finished home is worth — walk away or renegotiate.
OnOffDeals shows the spread on every analyzed deal next to the BRRRR math, because the spread is what lets a refinance pull your cash back out.