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Updated almost 9 years ago on . Most recent reply

User Stats

11
Posts
1
Votes
Eric Turrentine
  • Powder Springs, GA
1
Votes |
11
Posts

need advice on analyzing a deal in Fayetteville Ga SFH 4+3

Eric Turrentine
  • Powder Springs, GA
Posted

I have a property I  am in deal negotiations with 

the property is a 4 bed 3 bath 1890 sft tri-level with a pool light rehab just needs paint inside and out

ARV is 170,000 estimated repairs 6,350, owners minimum selling price is 130,000 I was hoping to fix and flip for 150,000 for a quick sale. with closing costs and other expenses I might get 10,000 out of the deal.

Are my margins to small?

am I missing anything in my analysis?

How would you structure the deal?

Most Popular Reply

User Stats

45
Posts
39
Votes
Cindy Veit
  • Flipper and Buy/Hold
  • Cary, NC
39
Votes |
45
Posts
Cindy Veit
  • Flipper and Buy/Hold
  • Cary, NC
Replied

Eric -

Have you looked at the comps in the area.  If you want a quick sale in Fayetteville, it needs to be the best in the neighborhood - I am talking new kitchen and new baths.  I have never done a rehab in Fayetteville for less than $15,000.  Based on that square footage, I will be surprised if you can do repairs for less than $10K.  

Here is a recent flip of mine.  https://www.dropbox.com/sh/wa3io8wpadghjpj/AAAN1Vy...

This is an example of what buyers are looking for.  Good luck

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