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Updated over 6 years ago on . Most recent reply

User Stats

23
Posts
4
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Aaron Gilmore
  • San Diego, California
4
Votes |
23
Posts

Fix and flip and rehab contractor SFR Copperas Cove, Texas

Aaron Gilmore
  • San Diego, California
Posted

I am looking to purchase a home in Copperas Cove, Texas to potentially do a fix and flip. 

I am trying to find a few things. 1st thing is does anyone know a great contractor in the Copperas Cove, TX area who could potentially provide a rehab estimate and that someone has worked with before? 

Secondly I am potentially interested in investing with someone for this property. 

The comps nearby sold for $155k & $147k. The house is 4 bed 2 bath and needs a good amount of work. I assumed $30 per sq/ft for rehab cost on the 2000 sqft house. My numbers looked like this:

ARV ($145,000)- $60000 (rehab budget) - $13,600 (money costs, assuming 7 month hold time) - $8700 (realtor fee) - $2310 (holding costs) - $4350 (closing costs).

House is listed at $65,000. I will plan on offering $35k. This would be my 1st fix and flip, does any one have any experience they can share or potentially anyone that might like to potentially do this type deal?

Thanks Aaron

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