PULL THE TRIGGER? READY TO DIVE IN!

[Courtney Rollins]

Hi BP World,

I just walked my first property by myself and deciding if I should put in an offer for this space. If you are willing to look at my numbers for my 1st first potential flip, I’d greatly appreciate it. If the numbers work and I get it under contract, I'd love for you to be the listing agent! Here’s my analysis so far:

Strategy & Numbers for a flip in Windsor Hills neighborhood 21216 (Class C) on in Baltimore, MD:

• ARV 120k
• Max Allowable Offer for 25k desired profit: $21,294
• Asking price: $43,900
• Desired profit: 25k >
• Rehab: 65k (seller says 45k but it needs new systems: plumbing, hvac, electrical)
• Financing: Hard Money majority & private funds partial
• estimated time in rehab: 60 days
• monthly holding cost: $853
• Transaction Type- LLC Assignment

This property would be purchased from a wholesaler and says that it is in pre-foreclosure. Not exactly sure how that would impact the numbers, but I am going to find out. I need to learn how to do title searches asap!

Also, I’d be willing to make less on the deal, but am afraid that if I go lower that the spread may be too tight. Thoughts?