Minimum Spread on a Flip

[Brad Jacobson]

What’s the minimum spread you look for when choosing to flip or not flip a property?

Here’s my current situation that I would love some feedback on:

Purchase opportunity: $260k

Est. Rehab: $30k (cosmetic throughout, bathroom overhaul, and kitchen update)

Est. ARV: $330

Additional costs: $10k-ish? (points, interest, closing costs, etc.)

Is entertaining a spread of $30k or less too slim? Especially when considering a BAC and all? I’m licensed so can resell myself without a commission.

I don’t want to let a good opportunity pass by but I also don’t want to take too much of a risk since I know there isn’t an extraordinary amount of meat on the bones on this one. What are your thoughts? Go for it at $260k or let it slip if I can’t get it for less?