First Flip!!! Need advice!

[Edward Kiser]

I am really interested in pulling the trigger on what I think is an awesome deal. 3 bed 2 bath 1600 sq ft property on a golf course lot. It is in an amazing private neighborhood, matter of fact my real estate mentor is buying 3 house in the same exact area. They were all flooded due to Hurricane Florence. My mentor is putting about 30k - 60k of repairs in his deals being about the same size and same scope of work. Listing price is $50,000 Im estimating repairs to be no more than $60,000 and it sold in June of 2017 for $138,000 while current comps are in the $150,000 ball park. Even if i bought for the asking price (50K) put in 60K of repairs and sold for 140k i would still make a 30k profit being conservative. I think this is an awesome deal im just kinda overwhelmed as it would be my first flip!! 

[Nurzhan Abenov]

Keep in mind besides renovation, you also have other expenses: closing cost when buying and selling, realtors comission when selling, taxes, insurance, interest if you borrowing money.