Opinions appreciated on this potential deal

[Corey Keller]

Property valued at   $194,100

Comps in the low $200's

Here's the breakdown:

   $194,100

x        .70 - the golden rule

_______________

   $135,870

We figured the house to be a medium repair price, so we took $15 x the square footage which = 

   $1,147 - sq ft

x      $15 price per sq ft

__________

  $17,205 total inside repairs(bathrooms etc)

We haven't talked to the owner, but are figuring $20k in repairs(roof etc) Sooo

   $135,870 - after the golden rule

-  $ 17,205 - interior repairs

____________

$118,665

- 20,000 - Cap X

____________

- $5,000 - fudge factor

$93,665 - MAO without profit

DEAL, OR NO DEAL?

Thanks in advance

[Corey Keller]

@Grant Rothenburger thanks for the advice. hopefully she doesn't know about Zillow and if she does looks like ill have some explaining to do. like I said before, this is just at first glance. I HAVE NOT talked to the seller yet. so who knows she might not want to sell. I am new to this and just wanted some advice for the numbers I do have to work with. @Brent Coombs yeah the deed says the land is worth 124,000 so that might be a good starting point depending on the inside. surrounding properties definitely look waaaay better lol. @Patrick Liska again this is a first glance kind of thing. a bird dog brought this to my attention! All I looked at was the deed that says it was appraised for 194000. so that's what I based my numbers on, 194 being the ARV. so WITHOUT everything else that goes into this that I am aware of, and based off of the numbers provided, do my numbers look right? that's basically what I was getting at!