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Updated almost 12 years ago,
Spankin new to this whole Real Estate Investing thing
I am just about to close on my first house flipping project! Purchasing a home for $235K Putting $35K into it and and hoping to get $340K for it (Listing for $370k). The comps in the area are selling anywhere from $340K to $440K... the only problem is the house I'm purchasing happens to be at the edge of the neighborhood where those comps are listed, which happens to be on a fairly busy road and a condo complex directly across the street. Everything seems to add up but I'm still worried that because this house is on the busier street I'm not going to get a return on it. This is my very first investment, I'm 27 years old, and have my first baby on the way... so as I'm sure all of you can remember from your first investment, I'm scared out of my pants!
My real estate agent thinks this will sell just fine because, though it may lose a little value because of the busy street, it will also be seen by tons traffic.
Should I feel comfortable with this or should I run away? Escrow closes this week so I need to make my final decision very soon!