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Updated over 10 years ago on . Most recent reply

Tony Levins's profile image
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Tony Levins
  • from Flomaton, Alabama
  • Member since Feb 10, 2013
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Tony Levins's profile image
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Tony Levins
  • from Flomaton, Alabama
  • Member since Feb 10, 2013
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Tony Levins
  • Flomaton, AL
1
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Real Estate Deal Analysis & Advice

New Investor deal evaluation

Tony Levins
  • Flomaton, AL
Posted

need some advice, what should a new investor start with:

A flip I can purchase for 18000 renovate for 15000 and the ARV will be around 50000 to 55000

Or a rental for 30000 doesn't need any repair in a decent market rents for 550 per month.

Both deals will be financed conventional.

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Arlan Potter's profile image
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Arlan Potter
  • Investor/Accountant/Builder
  • from Meno, Oklahoma
  • Member since Jun 17, 2014
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Arlan Potter's profile image
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Arlan Potter
  • Investor/Accountant/Builder
  • from Meno, Oklahoma
  • Member since Jun 17, 2014
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Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
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Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
Replied

Reality:

Price. $18000

Closing and loan cost $2000

Rehab. $22000(always cost more than you think)

Selling cost $3800 

Actual sale price 49000

Profit. $3200

You could make more than that renting the house for one year. That is why I buy and hold cheap houses.

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