Flipping Houses

[Account Closed]

Getting close on our first deal!

It's a REO SF brick selling for 69,000. Total rehab 889Sqft. 2bd 1bth. Lot size 4,700sqft. 2 car garage. ARV 130,000. Any advice? asking price?

[Dustin Avadar]

If your from chicago there is a lot better opportunities out there, then the current one your looking at.   Personally I never like to get into a building under 1000sq ft, some ppl do and like to take that risk, I personally love to be liquid and being under 1000 sq ft will have a very small demographic of people that will buy that property.  Were abouts in chicago are you?   If your interested in flipping houses, around that purchase price I would get ahold of frank montro, he's the only guy that I would trust right now in the south and is bringing over 35 years experience to the table.  

Also you said total rehab so complete guy, I mean if you could keep the rehab under 20k, then your look at some sweet margins, but once again I just feel there's better deals out there, best of luck

Dustin