Brrrr investing: my first deal

[Bret Treadway]

I'm currently under contract for my first brrrr deal. My realtor worked with me in finding a house to invest in. My realtor who show me the current house I'm under contract for has many years of investing herself so I mistakenly trusted her word. I was told the ARV of the house would be 149k and the rehab would be between 30-35k. No brainer right?! After getting the house under contract for 59k with no closing costs, I brought in a contractor who told me the work would be closer to 45k and upon asking another realtor for an ARV, I was told that it could be valued at 133k on a good day but more than likely 127k. I have one more contractor coming out today to give me a bid. I'm still in my option period right now

and I’m considered just backing out completely.

The realtor I had was a my mom’s friend, distant friend but friend nonetheless, so I figured she would be more involved like she told me she would when I hired her.

I would love some mentorship so all advice would be appreciated.