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Updated over 5 years ago,
Is this a good deal?
Hey everyone I have a offer of 25000 that was accepted and it’s not in the greatest area the few houses around it seem fine but after you go down the next block it doesn’t feel so safe. The rent is around 600-650, there are no recent comps for what it will be worth but a house down the street has a zestimate (I know it’s not accurate) or 75k and that’s what the wholesaler thinks it’d be worth after repairs. I think it will cost about 25k to complete project (I’ve never done one before but that’s what I estimated using a repair calc I made.) I’d be all in for about 50k and I think it’ll take 2-3 months to finish repairs since it’ll be my first time working with a gc. I’m unsure about the and the location arv so was wondering what y’all thought about this deal. it’s in Spartanburg sc.