Larger deal is the juice worth the squeeze on this one

[Richard Murrray]

So this is a investment/ flip I am very serious considering doing (already started escrow). the mls is 190048729

https://www.redfin.com/CA/San-Diego/6805-Fisk-Ave-92122/home/4895069

With a purchase price of 845k with 3500 closing costs

total remodel (done well) 96k

20k kitchen

15k (2) bath

10k flooring

12.5k paint/baseboard

7500 on windows and door (inc. pre hung interior)

13k roof

15k plumbing (needs epoxy reling to the main)

3k landscape

totalling 950k ish total cash outlay

anticipated sale is 1.1 mil

gross 150k

-minus seller fees 55k

and contingency 5k

making nice profit range 90k with a worst case sale price of 1,050,000 still in 40k ish

I guess my issue is being the 3rd deal I am on so far (usually the 500k range) the larger # make me post up for another viewpoint for my SD real estate pros to say this good or not. would love to hear from 2nd opinion look before we close.

TIA

San Diego Real Estate Forum

[Adam Dailey]

I personally think there is not enough meat on the bone.  That's a lot of risk to make $90k...and if it's $40k then definitely not worth it.  Not sure how you are financing but assuming it's hard money it could eat up your profits quickly if you are unable to sell quickly.

My two cents.