What do you guys think???

[John Matthew Johnston]

So we have a few rentals and now have acquired our first potential flip! Excited about this property but wanted to see if the deal looked ok to you guys?

3 and 2 1500SFT

The Numbers:

Purchase price $77,000.00

Closing cost $4,000.00

Repairs:

Flooring 6000.00

Cabinets 2500.00

Counters 3500.00

Appliances 1500.00

Int paint 750.00

Sheet Rock 500.00

Landscaping 400.00

Fixtures 1000.00

Demo walls/Moving duct work and electricity 6000.00

Expected Selling costs and hold costs: 12,000

Total: $115,150

ARV 150,000-160,000

Possible Gains of $34,850-44,850.