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Updated about 9 years ago on . Most recent reply

Account Closed
  • Edwardsville, IL
0
Votes |
1
Posts

New investor found first investment ya or nay?

Account Closed
  • Edwardsville, IL
Posted

New investor saved up enough to barely get my first purchase, a forclosure for 21g resale value at 97g.  I have free help on the remodel except for a contractor on plumbing and electrical. Should I just go for it if the inspection is clear and the numbers all fit? Thanks it'd be my first deal and I'm still hesitant on pulling the trigger on deals. 

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461
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262
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Doug W.
  • Flipper/Rehabber
  • Alexandria, VA
262
Votes |
461
Posts
Doug W.
  • Flipper/Rehabber
  • Alexandria, VA
Replied

Sure. Go for it if the numbers fit @Account Closed. If you want folks here on BP to analyze the deal we need to know more. What is "more"? Here is a list:

1) purchase price: $21k

2) ARV: $97k

3) Rehab costs:

4) Holding costs:

5) Closing costs:

6) Expected time from purchase, to rehab complete, to sale (settlement)? 

7) [if you care to include] what will the rehab include? 

Thanks and good luck if you proceed.

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