Analyze this deal

[Juan Mora]

I’m looking at this Zillow deal and running the numbers as a 90 day flip. 

https://www.zillow.com/homedetails/2311-Di-Foss-St-Lemon-Gro...

ARV comps $729,000

Purchase $540,000 hard money loan 

Rehab $80,000 

Carrying costs $20,000

Gross profit $90,000 

I have about $350k in savings and plan to use hard money and heloc to keep my savings safe but ready to deploy if needed. 

[Ryan Davies]

Most Hard Money work like this:

• Rates: 10% to 14% (Most Deals are 12%)
• Terms: 1 Day - 24 Months (Most Deals are 6 months)
• Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee
• Minimum Loan Amount: $75,000
• Max Loan: 65-70% of After Repair Value(ARV)
• 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)
• Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)
• NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

[Arturo Medina]

Hey Juan,

Have you had any luck finding a deal? What is your buy box?

I'm an agent and investor in San Diego if you want to connect send a PM.

[Leoan Concepcion]

Hello Juan,

Did you do the deal? I see the property sold recently.  

[Juan Mora]

No we did not get it. 

We offered $620k cash and someone else beat us by $25k and no contingencies. 

It’s brutal out here. 

[Leoan Concepcion]

Quote from @Juan Mora:

No we did not get it. 

We offered $620k cash and someone else beat us by $25k and no contingencies. 

It’s brutal out here. 

Sucks! Good luck with the next deal!