Running the numbers before I put in an offer

[Brandon Clark]

What up BP,

So I could potentially put in my 1st offer on tomorrow. So I wanted to run the numbers on BP with the professionals to make sure i'm not missing anything.

Purchase Price = 50k

ARV = 110 - 120k ( comps show 2 homes sold in the neighborhood. One was listed at 130,900 but sold for 123,500 with 96 DOM. The second  was listed at 142,500 but sold at 125,00 with 77 DOM.

House 1 was $77.19 per sqft

House 2 was $78.13 per sqft

If i was to list my house for $78.13 per sqft after the rehab it would be 104k (note- the other 2 houses were completely out of date. Average-Good condition)

Rehab = About 20k will meet with GC to get better estimates 

In to the house = 70k (not sure if this comes after total expenses or not.. sorry)

Holding Cost (estimated 4 mo ) = about $4300 plus utilities

Closing Cost = $2900

Now in to the house (After 4 mo) = 77,200 plus utilities

Selling Cost

commission = $6600 (6% of 110k)

(Maybe) buyers closing cost = 6,600 (6% of 110k) 

If I'm not missing anything and my estimates are correct I'm left with 26k minus utilities 

I hope this is considered conservative. There were houses that were fully updated with the same sqft sold for 190k. That's the tricky part I guess. 

Please let me know I'm over looking anything. Thanks again

-Brandon