#2 analyze this flip! Lorain County Cleveland Ohio 3 br, 1.5 ba

[Billy Dee]

Hello everyone! I'm new to investing and new to BP and real estate. My dad and I flipped a house last year and are looking for our second purchase. We are considering a 1400. ft. 3 br, 1.5 bath home built in 1972. It The home is located in Elyria, Ohio and I'm thinking it can fetch $125k. The bid starts at $48k but I anticipate the price going to around $80k, if not more. I did a little digging and they took a loan out on the property for $119,300 in 2009 that would be amortized down to approximately $93k today. 70% rule says with $20k in repair costs i should only pay up to $67k or $78k with no realtor involvement. We have cash. Needs flooring throughout, some sidewalk work, 4 windows, paint, kitchen, bathroom update, landscaping, and tlc. I found an electrical panel (updated breaker box) with 200 amp service. Looking for analysis and opinion on all electric properties. It's a split level with baseboard electric heat and no a/c. No real good way to add a/c on a split. Thoughts???

Cleveland, Elyria, Lorain County, Ohio, fix and flip