What do you guys think?

[Kyle Evans]

Hello everyone, 

I'm going to look at a potential flip on a 3 bed 1 bath tomorrow.

I know that you guys can't give me a answer without knowing a lot of things like the local market etc... but I just want to post this to see what everyone thinks. 

The property was shown to me by a wholesaler. Offered at around $170k

ARV is around $250k with comps that range from $252k-260k

The rehab budget estimate is around 20k but honestly I would say more like 30-35k

What do you guys think? To me it looks like a great deal! 

Basement is unfinished and thought of adding another bath as well. 

Thanks in advance for taking the time to read my post. 

Happy investing everyone!

-Kyle Evans

[Dan Costantino]

Could get tight if you go over budget on the repairs.  Are you using your own cash?  That would be a plus.

Gross Profit based on Purchase/Rehab:  $50,000  ($170k PP and $30k Rehab)

Realtor fees for sale: $15,000

Closing Costs:  $6,000? (buy and sell)

Holding Costs: ?

Financing: ?

Budget Overage:  $5,000

You're looking at about $20,000 in net profit if you're financing it yourself.  If you go over $35k in the rehab, or you have significant holding costs, you are really skinny.

Just throwing out the numbers people often leave out.