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Updated over 5 years ago,
Help me analyze this deal BRRRR or Flip
Just found this deal which I think is great called the listing agent and got some info from her. This property is in the Grosse Pointe area . I might get a PML/HML for the acquisition cost because im in the process of purchasing four doors now .
Acquisition Cost 45k might be able to get it for 40k owner is desperate the city has started fining her so non compliance. Sits on almost an acre of land
Roof: 15k
Garage Door Repair/replacement :2.5k
Drywall 5k
Flooring: 5500
HVAC: 8k
Bathroom reno 7.5k
Paint 1k
Kitchen 7.5k
Cleaning out /Mis 2.5k
Curb appeal- 1k
5k contingency
Comps from recently sold 155k 2 months ago not renovated smaller square footage
I padded the renovation cost just to be safe and conservative rent in this area 1,200- 1400. I would cash flow 2-300 if I use the BRRRR method even with a HML and holding cost of 3 months