Flip or wholesale on the MLS

[Moshe Goykhman]

Hi Everyone. Firstly, thanks to everyone who has added to my knowledge as I journey in this world. I am debating whether it makes sense to fully rehab or try to flip in as is condition I property I recently won at auction. 

I have walked it with my contractor and numbers would be 

Purchase: $236,000 

Rehab (I had 3 people out there): $75,000-$100,000 (accounting for contingencies)

ARV: $475,000-$525,000

In a best case flip scenario profit target would be in the $100,000-$125,000 range.

I have a friend who has flipped a few properties and feels a "fire sale" price as is would go for $280,000-$285,000.

I have only done personal renovations so feel if I want to rehab long term this was a very good buy and can make good money and learn a lot along the way. Alternatively to be able to net $30,000-$40,000 on a wholesale flip seems like a solid exit strategy as well especially since we are heading towards fall. 

I'd love any feedback or things to consider that I may be missing.