My First Deal

[Leo Lanza]

I've been working with a wholesaler in my area trying to analyze this deal, but I want someone to take a second look. Preferably someone with a few flips under their belt to see if I'm running these numbers right. I will be using a Hard Money Lender 70%ARV @ 14% interest. Please point out anything i might be missing very nervous for my first flip! Thank You so much I appreciate anyone help!

Profit Calculator Chart
ARV	$160,000.00	ARV	$160,000.00
Purchase Price	$96,000.00	LTV	70.00%
Purchase Closing Cost	$2,000.00	Cost	$138,320.00
4 pts	$5,320.00	Down Payment	$26,320.00
Rehab	$35,000.00
Carrying Costs	$8,454.93
Utilities	$500.00
Prop. Insurance	$700.00
Prop. Tax	$800.00
Association Fees
Interest	$6,454.93
Sale Closing Cost	$6,400.00
Title Insurance	$800.00
Recording Fee	$200.00
Closing Fee	$200.00
Buyers Closing Cost	$2,000.00
Commission 3%	$3,200.00
Total	$12,145.07
-Capital Gains Tax 35%	$4,250.77
Profit	$7,894.29
ROI
Invested	$26,320.00
Profit	$7,894.29
Return	29.99%

[Brian Huber]

Hi Leo, I'm still learning too but shouldn't this be:

ARV $160,000 x .70 = $112,000 - $35,000 Rehab costs = $77,000

Seems like you should be getting this property for around $77K to make it worthwhile.

Just my .02 cents...