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Updated over 13 years ago,
What am I missing ?
I am making calculations to make sure my numbers and choices can make me a profit.
The ARV is $109k to $129k.
I have priced all my repairs and selections, rehab cast are in $12,500 range, I added 20 0/0 to cover overages etc, so let's say $15k
My purchase price is $30k (city owns house and 700 others and the are dumping them for cheap)
So the cost I have included in caps are:
Sales commissions on back end
Original purchase price
Hard money interest of 14 0/0 paid monthly
Per diem over 90 days ( part of hard money deal)
The rehab costs
Closing cost of purchase and sale sides
Insurance
Taxes
Electric bill
Water bill
Might have a trash bill due to being in the city
What have I missed? The sale price and hard money are accurate per my deal. And it's 1st flip!!
I plan on listing for $99,995
Thoughts?