Newer to Flips (Need Advice)

[Annie Frazier]

I have a potential house for a flip. It's in a great location that is growing rapidly. The owner will take a lower cash offer than posted on MLS. However, I am new to flips and am trying to get some feedback.....

The house was built in 1915 and is 3235 square feet. Again, this is in PRIME LOCATION and walking distance to hospitals, dining, and nightlife. I have done a walk through and it basically needs to be completely redone, from wiring,foundation, to plumbing. This house needs the whole nine yards done. Do you think this is too much to take on being newer to flips. This has the possibility to be rented out room by room (up to 6 bedrooms) it doesn’t make sense to flip it and sell it as a whole in this area because it’s 2X bigger than any house in the area.... I’m asking for advice/ strategies.... thanks in advance