need help with first deal

[Zac Davis]

i found a property to flip and my very rough analysis is...

Purchase Price - 47200

Beds 2 

Baths 2 

Sq Ft 1717 

Built 1934 

Reno costs 20-24k

holding costs and fees - 12800

ARV - 105-115k

profit - 20-30k 

My issue is that this house isn't in the best of neighborhoods, c to c- area. Because of this my partners, also new to the game, aren't interested. All I can see is the potential profit and a good way to get going. I have been very conservative on the ARV as well as inflated my reno budget to cover unforeseeable issues because its really old.

My thoughts are that if the numbers crunch out, and comps are showing homes selling in the area within 6-8 months, there shouldn't be an issue right? the goal is a flip not a buy and hold so shouldn't the area the house is in matter less?

I don't have the money myself to make this one work otherwise I would do it i think.