Off Market Flip in Lawrenceville

[Jesse Goldstein]

Hey all, 

I'm a new RE investor here in PGH. I have an opportunity to get into an off market deal that needs a total gut rehab (e.g. still has knob/tube). Any good advice or things to avoid would be really appreciated. 

2200 sqft 4/2 + 2 car garage in Lawrenceville.

Seller wants $190k

Rehab costs: around $200k

ARV: 550-650k, depending on finishings

[Chris Policicchio]

Personally, if this were my first flip, I'm not sure I'd want a total gut with a budget that high.  If you have the capital, it might be worth it, but for a first project, this seems like a lot to handle, especially with no team in place.  With that said, if you move forward, I'd recommend you do whatever you can to really plan your project.  I would try and be very specific.  I would use the BP Calculators.  If you can't answer the questions for the flip calculator, that will help you go get answers.