NEED YOUR OPINION!!! Buying condo to flip?

[Nick Carter]

Hello everyone!

My name is nick and I am new to this forum but I have come to you for some help. All input is welcome.

Here is my background I have been working construction for about 6 years now on and off and have the complete ability to remodel a home on my own.

I have the opportunity to purchase a condo at about 230k cash the property is valued at around 300k. The downside is I have to remodel the entire unit I have gone through it and have bid the job to cost around 25k if I were to hire out. I am not going to hire out I am going to be working on the property on my own on my off time and at most am planning on spending 12-15k on the property I have most the materials stocked up for the remodel.

- comps are selling with basic kitchen and bathrooms and carpet from 290-310k over the past 6 months

- hoa fee is 250$ a month

-middle class neighborhood great location between schools and shopping centers as well as business plazas in the area

- located in San Diego California

So this sale is a short sale I started about 7 months ago and low balled the offer because of the condition of the property. I was approved for the sale the other day and now it's up to me to pull the trigger. I need your input this is my first flip and feel I have all my ducks in a row but I would appreciate the input of a more experienced investor.

Let me know what you think???

Nick