Is this a good deal?

[Ty Jenkins]

I am working on getting my first house under contract and after viewing the house im not sure if it’s a good deal or not. Here are the numbers

Arv = 200,000 to 230,000

Repairs = Total gut and rehab. My estimate was 70,000 to 80,000

Price= 70,000

Property size is 1600 sq feet if that helps.

My concern is that the repairs my cost more than my estimate. This is my first time looking at a house in such bad shape so I might be over estimating the amount of work that needs to be done. The biggest problem was there is terminate damage and needs new walls but the foundation can be saved. Do y’all think I should go for it???

Also I’m going to wholesale it so how much should I market it for?

Thx in advance