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Updated almost 8 years ago,
Could be great!!!....but how to calculate?
Hi all! Newbie here at BP. Love the website and all that comes with it. I've come across this deal although I'm not sure how to get the correct analysis, as the figures don't fit properly in the BP calculators. Some help and your opinion would be greatly appreciated!
The deal as follows...
Fix and Flip
Listed at 350k most likely go a little over 400.
Put in an offer at 392k. Recent sold comps at 650k
I plan to put in 100k on rehab 100% hard money
1% closing cost for agent (392k), 1.5% origination (hard money for total amount of loan 492k @10.9%) no pre-pay penalty
I need to put down 25% down on sale price of 392k.
Plan to finish rehab no later than 3 months.
Not sure if I left anything out... can you help?
Best,
-Nader