My first deal!

[Jonathan Thrasher]

Hey everyone!  So I just closed on my first deal last Friday! I'm excited and can't wait to get started with the renovation process.  My primary strategy is to fix and flip it.  Right now it's a 2/1.5 but could be a 3/2 as it stands but cramped.  Once completed it will be 3/2 with added sf.   It's in Grand Rapids, MI.  For those familiar with the area it's right near Wealthy/Eastern which is a great walkable neighborhood. 

Purchase price - $30,000

ARV - $135,000

Repair costs   - $70,000-$80,000

Projected profit of around $20,000-$35,000 

Not a home run but not bad for a first flip. 

I'll post again once the project gets going and I'm sure I'll have questions along the way.  Thanks to BiggerPockets for getting me started!