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Updated over 10 years ago,
Help with numbers
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.