First Flip

[Daniel Inman]

Looking into my first flip, here are the details.

Good Neighborhood, one downside is its on main street but has a rear access.
SFR REO Listed for 277 days and 4 auctions later
ARV (lowest comp based) - 196K
Selling costs - 21.8K
Holding Costs (hml) 6m - 16K
Rehab Costs (20% over) - 35K
Max Purchase Price - 92K
Profit - 31.2

Trying to go this route via HML with all fees deferred till close.
Going Thursday or friday to talk to hard money lender but might have to find another if he is unwilling.

I might be leaving something out but basically this deal I believe can be quite good.

Thoughts?

Best Regards,

Daniel Inman