newbie seeking opinions

[J.D. Holifield]

ok so i have a deal i need opinions on. just want to make sure i dont goof up on my first flip.

ARV= 175000

cost=75000

rehap estimation=40000

good deal or not?

so this property needs:

some light foundation work. quote on file with local company- not open til monday

new roof- old

and... paint, carpet, has ugly paneling, etc. built in 1970, kitchen rehab(cabinets are good, layout good)

i looked at a neighbor house that is currently for sale for 170000. it has firmika counter, no laminets or hardwoods. vinyl tile and carpet and lenolium. new paint. nice. clean. house.

so again i ask what ya think.

thank you in advance,

J.D. holifield
www.MidStateProperties.com

[J Scott]

The house for sale is meaningless until it sells... Who knows, it could sell for $120,000.

Do a full comp analysis to determine your ARV.

Also, get an inspection to verify the scope of work. 

Get firm bids on the work. 

If the numbers are the same after that, then move forward.