Wanting to pull the trigger- 1st time REI

[Branden Pfaff]

Hey BP, As way of introduction: I’ve been interested in REI for quite some time now, but never had the knowledge to step forward with it. I feel that BP has given me the confidence to seek out my first deal. I’m amazed and thankful for the wealth of knowledge on this site. The property that I am looking at is a SFH 800 sq ft. The exterior is rough and it’s been vacant for 2 years (the owner is old and annoyed of crappy tenants). The house doesn’t need much besides a roof, siding, paint, and some kitchen cabinets. A realtor friend told me that he has sold 2 similar homes in the neighborhood for over their asking price (~100k), in under 24hrs. Contractor estimates 15-20k in repairs and the neighbor will sell for 50k. It’s in an improving area of town as well. Anyone want to help a newbie analyze this deal? Looking to flip. Branden