Deal Review in Hampton

[Luncy Jeter]

I would like to have the opinion of more experienced investors in the Hampton Roads area for a potential fix and flip or fix and rent deal.

Property located in Hampton VA. About 10 minutes away from Langley AFB. I know a lot of people hate going over the HRBT especially during rush hour but since there are several bases located on that side, the shipyard, and Hampton University, there is a market there.

I have a SFH home I'm looking to invest in. The ARV is 145,000, it needs about 30k in repairs so my purchase price would be about 64,000 give or take. I think at this price it would make out either as a fix or flip or fix and rent. According to the rent-o-meter, the going rent is 1400 however I think 1100 to 1200 is more reasonable. Its in a nice area with rehabs and new construction going on.

Any feedback would be greatly appreciated.