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Updated over 10 years ago,

User Stats

283
Posts
205
Votes
John Hixon
  • Investor
  • The Colony, TX
205
Votes |
283
Posts

Help with numbers

John Hixon
  • Investor
  • The Colony, TX
Posted

I am in the process of trying to find my first property to buy for a fix and flip. But, I am having some issues with trying to figure out the numbers. I will be using a HML for this deal and was wondering if someone could look at the numbers.

Property:  This is a typical property that I get sent.

ARV: 154,000

              Purchase price: 98,000

              Repairs: 26,000

              Taxes: 3,400/year

Closing cost:

              I would be paying the closing costs for myself and the seller since this would be coming from a wholesaler: $5,000

HML:

        9.99% w/ 4 points

Realtor fees when I sell: 5%

I would appreciate it if someone could run some numbers given the figures above and let me know what you come up with.  Assume a 3 month turn around from buy to sell. Also, assume all of your standard costs associated with buying, rehabbing and selling a property.  

Thanks.

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