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Updated about 6 years ago,
Comps are all over the place... good deal or pass?
Greetings BP,
I was hoping I could get some friendly advice on this potential flip. It looked like a good deal at first, but recently sold comps are all over the board (25K up to 125K). Here are the nuts and bolts and a link with more details for anyone interested.
Purchase Price: 50k net (seller paying all closing costs)
Renovation Costs: 13K
ARV: Difficult to determine, but I'd say 85K is being conservative based on the comps we have researched.
Net Profit: 16K after closing costs
Link: https://drive.google.com/open?id=1eFAU_uPOxp9tt2cr...
The main thing that worries me here is the big spread on comps. When I eliminate the outliers, I end up in the 85-95K range on ARV. It has been over two months since our last deal and I might be suffering from some analysis paralysis here. Let me know your thoughts!