I might have found a possible first home to flip, but I need gui

[Kevin Kohler]

Here are my numbers on a 1350sf 3/2 I found:

• purchase price: $60,000
• Rehab budget: $60k
• Holding & hard loan costs: $14,000
• Sale closing & Realtor fees: $11,000
• ARV: $199,900
• Possible profit: $54,900

I am assuming the kitchen and 2 bathrooms need a full redo as well as painting/sealing the driveway a day some new floors. I could possibly get everything done with a lower budget but prefer to be prepared.

Thoughts? 

Also, does anyone have a good excel sheet or Web calculator to double check hard money costs?

There are 2000sf homes 2 blocks away that have sold for $280k but mostly it is an inexpensive neighborhood. Maybe I'm pricing ARV too low...