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Updated over 10 years ago,
Advice on deal
Hello!
This will possibly be my first flip and would like opinions on whether or not it's good or not. Fannie Mae property. Was listed at 184,900. They reduced to 174,900. My partner and I started with bidding at 150,000. Bank came back at 170,000. Our current bid is 167,500. Contractor gave an estimate of 43,000 to fix. Them there are realtor fees. It's a three brm, 1 bath with basement. We will be putting another bath in. Realtor says we can sell for 165,000 conservatively.
It's our first so not looking to make a ton, but to gain experience and not lose.
Opinions?
Thanks in advance!