First flip- go or no go?

[Beth Blankenbicker]

Looking at a potential first flip but having some trouble with crunching the numbers. Its a 3/2 on almost five acres, listed at $325, needs drywall, flooring and kitchen cabinets, master bath completion, and some very light landscaping. Having trouble determining what an appropriate ARV would be- comps are all over the board, I see other 3/2 homes of similar size ranging from $270-500 but there so many variables- smaller lot, more square footage. The unique appeal of this property is that it has some equestrian amenities and is located within thirty minutes of two of the largest show venues in the country. I think I would offer less and I roughly estimated finishing it out at 50k (a lot of building materials are included) and ask 450-500 but if anyone can offer some guidance/insight I would appreciate it

[Eliott Elias]

Go! The numbers look good, get that experience under your belt and never look back. Your first flip will be your most memorable one