Analyzing my first house flip.

[Matthew A Rodriguez]

Looking to do my first flip in Greenville, SC. I have reached out to 30 hard money lenders found here on Bigger Pockets and have narrowed down to 3 or 4 lenders. Talking to area contractors about lead time on getting work started. I have brought on an equity partner for the money in conjunction with mine. I am currently a real estate agent and know appraisers, inspectors, and a good real estate attorney. We still need a good CPA. I am needing help on analyzing an example deal. This is the type of deal we are looking for from local wholesalers. Can anyone tell us what we are missing. Thanks. We expect this to be a 5 month flip. 

After repair value (ARV) $ 175,000

Offer (70% LTV-Repairs) $ 92,500

Repairs $ 30,000

All In $ 122,500

Hard Money Loan $ 98,000

Down payment (20%) $ 24,500

Points (3) $ 2,940

Interest (9%) $ 8,820

Closing (3%) $ 5,250

Realtor Fees (3%) $ 5,250

Miscellaneous (inspections, appraisal, surveys) $ 2,000

Holding cost (5 months)

General Liability Insurance $ 875

Taxes $ 1,100

Water $ 250

Electric $ 500

HOA $ 175

Total cost of flip $ 149,660

Profit $ 25,340

[Ryan Herting]

Hey @matthewarodriguez, 

My team actually created this pretty cool smart underwriting spreadsheet. You can plugin your above-mentioned values and it's super helpful to analyze a deal with. Here is a link to it https://ifundcities.com/resour... Select the Deal Underwriting button. If you also feel you missed something, the spreadsheet acts as a checklist. We've created a video as well that walks you through it which can be found here.

Hope this was helpful!