Need Help - is this a good wholesale deal?

[Kim Handelman]

Hi Everyone,

I asked about this deal last December and didn't get any feedback. The seller evaporated and now she's come back ready to sell. Are my updated numbers right? Do rehabbers shy away from high HOA fees?

Condo, in Madison, CT (an affluent community on the water - not Fairfield County) Complex has good reputation and distant views of Long Island Sound:

UNIT: 2 bed 2 ba 1,836 sq ft. cathedral living rm, 4 season sun room finished, walkout basement, 2 car attached garage. Built in 1996. Kitchen flooded spring 2014 kitchen and was replaced w/ all low end stuff. Middle unit.

HOA Fees: 650 mo. (this is on the higher end of normal for this area).

COMPS:

2 bd 2 ba SOLD 11/21/14 for $180K - 1,160 sq ft smaller and foreclosure bad shape

2 bd 2 ba SOLD 12/10/14 $350K - 1,374 sq ft. smaller but end unit fully updated w/ finished basement

3 bd 3 ba SOLD 10/15/14 $390K - 1,542 Sq Ft fully updated w/finished basement

CONSERVATIVE ARV: $330K could be higher right????

_______________________

REHAB:

KITCHEN$10,000

    Cabinets $6,000

    Granite   $2,500

    Appliances$  1,500

MASTER BATH   $7,000

2ND BATH $2,500 (has good tub/shower unit)

DUMPSTER $1,000

PAINTING   $2,500

CARPET FLOORS $3,500

                  ----------------

TOTAL:            $26,500

15% OVER     -$3,975

                  ----------------

TOTAL           $30,475

____________________

70% ARV $231,000

Rehab                 -$30,475

Wholesale fee   - $10,000

                    -------------------

Max Price          $190,525 

Am I not moving on this because I'm afraid to take action or am I afraid this isn't a good deal? Please help me out!