First Deal, Think I'm ready to pull the trigger!

[Joseph Grullon]

Well, after a couple months of non-stop education and immersion into everything real estate, I think my partner and I are ready to pull the trigger on our first deal. What do you guys think of this deal?

3/1 SFR // 880 SF / 9,000 SF Lot

ARV: $115k

Wholesaler asking: 67k cash

Estimated rehab costs: 15k

Monthly expenses (utilities,taxes,etc.): 250

Closing cost (including realtor fees): $4.6k

Total days held: 60 days

Projected pre-tax profit: $27.9k

Btw, we had a contractor come out and give us estimates, that's how we came to our estimated rehab costs.

Thanks in advance for your advice and feedback.

[Account Closed]

I would say this is not a good deal for your first one.

Not enough profit margin for the mistakes that will be made, the things you don't see or no to look for because you are new and I'm sure the contractor will be higher then he quoted. I would keep looking. I