[Calc Review] Help me analyze this deal

[Josh Swait]

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*This link comes directly from our calculators, based on information input by the member who posted.

Hey everyone I am looking for my first house to fix and flip in Springfield, MO and was wondering if I could get some help analyzing this deal. I've went through the fix and flip calculator but I feel like I am missing something.

I will have to use a hard money lender due to my credit score only being in low 600s and I don't know of any private lenders. With the hard money lender that will allow me to still use them with a credit score like mine the loan rate will be about 12% and charged 2-3 points. So my question is would this property still be worth it after all the interests and points I'm being charged.

This is how I analyzed the property on paper with the asking price.

Purchase Price - $85,000

Rehab Cost - $35,000 (the listing shows the house does not have a heating/cooling source, the roof looks like it needs redone, plus all the inside work)

Holding Cost - $521 for 5 months = $2,605

Total = $122,605

Interest - $122,605 x 12.9% = $15,816

Points - $122,605 x 3% = $3,678

Total = $19,494

With these 2 added up for a total amount of $142,100 and estimated ARV of $145,000 doesn't leave much room for error.

Please let me know if I am looking at this correctly and if not where I went wrong. Any help with this will be much appreciated!