Do you like my FLIP numbers?

[Michael P.]

Hi everyone,
I am working on a flip, let me know what you think of the numbers.  In addition, am I missing anything?

Flip Analysis
ARV	$ 110,000.00
Purchase Price	$ (55,000.00)
Repairs
Kitchen	$ (2,500.00)
Carpet	$ (2,000.00)
Bathroom 1	$ (2,500.00)
Bathroom 2	$ -
Paint	$ (1,000.00)
First Floor Laminate	$ (3,000.00)
$ 10,000.00
Cash Requires
Repairs	$ (10,000.00)
Downpayment	$ (11,000.00)
Closing Cost	$ (5,500.00)
$ (26,500.00)
Holding x 4 months	$ (3,400.00)
Sale Price	$ 110,000.00
Purchase + Repair	$ (68,400.00)
Realtor	$ (6,600.00)
$ (75,000.00)
Not Including Holding Profit	$ 35,000.00
Including 4 month Hold	$ 31,600.00

[Brian Pulaski]

@Michael P. still not a bad deal, assuming you feel confident you are covered for the work it needs.

One thing to think about in regards to a $110K sale price. It will most likely be selling to an FHA buyer, which "can" complicate the sale a little. Every FHA deal I have seen/dealt with asks for give backs at closing (up to a certain percent is allowed). FHA inspections are more involved and certain items need to be done with no negotiations from you. Also an FHA appraisal, if it comes in lower than your hopeful sale price, will stick with the property for any other FHA buyer, for 6 months.

Not that these are issues, just items to think about when analyzing the deal.