Need Analysis of Flip

[Gani Veer]

Even though I have experience with rentals, trying to do a flip for the 1st time.  Got a property under contract in Beverly Chicago. I am just trying to find a good contractor and money lenders..

Purchase at 245k, where properties in the neighborhood sold in the range of 370-400K. The house needs windows, nice kitchen, second floor remodel to add bed/bath, windows, concrete etc.

I really have to get a good estimate on these. Any idea on how to estimate the cost of rehab on this.

I am also considering selling the deal to other people as well.

[Kuba F.]

Well as long as your contract is contingent then you're fine. Getting the contractor in to evaluate what you want done is certainly the next step to help you determine the actual costs. I imagine the costs may be a little bit higher than what you initially estimated but if you offered at 66 cents on the dollar, chances are you have enough buffer to make up any overages.  Ultimately a full analysis is what will ensure that this is worth doing once you have all of your costs in.  

Best of luck with it!

Kuba