First flip of its kind for me 3900 sf. Advice? wholesale it?

[Mayer M.]

Hey! So I’ve done plenty of flips since I started about 18 months ago, but all have been condos, townhouses, and twins. A realtor I know brought me an off market deal in Burlington County, NJ. It is 3900 SF plus a full unfinished basement with 8 foot ceilings, 4 Beds, 3.5 baths, and a pool. It is currently owned by the kids of the original owners who built it in the 1950’s. This property needs a full interior rehab, 2 Zone HVAC, roof, new blacktop driveway (about 100 feet), landscaping, updating the panel, and new fence around the pool. The windows are old but have a lot of charm and are storm windows. For the windows my GC says no need to replace them and the only damage is the paint, so refinish them. I’ve never done something like this, but it was too good a deal to pass up. In a nutshell I bought it for $91k, rehab estimate is $115k-$130k and ARV is $400-$450k. There’s a lot of meat on the bone and I think I could make decent money wholesaling it. Thoughts? Rehab or wholesale it? General advice on something like this? I’m nervous!!! Thanks in advance!

[Caleb Heimsoth]

Are you using a hard money lender or not? All cash? I would nail down that rehab estimate and ARV. That’s a big range between the two.

If you do that I’d probably flip it