Please Analyze This Deal

[Tristan Cortez]

Hello BP

I would like some Deal analysis on this potential flip.

It is a 2bed/1bath, 952 sqft house

I have to opportunity to buy this off market deal. It has been vacant for over 8 years, and has bedroom mold issues because of a hole in the roof. Below are my estimates of the repairs I think would need to be done to sell this house. I believe that after the repairs it could sell for $72,000. I will be meeting my contractor later in the month.

Purchase price : $15,000 (county assessed $26,880)

New roof : $6,000

Pier and beam foundation repair : $4,000

Outside painting : $2,500

Inside painting : $1,500

Inside mold removal : $ 2,500

Refinish hardwood floors : $1,000

New kitchen cabinets : $3,500

Rewiring : $3,500

Landscaping : $300

Plumbing : $3,500

Kitchen appliances : $500

Total renovation : $28,300

All in =$43,300

Sale : $72,000

Profit=$28,700 divided between me and my investor =$14,350 profit for me.

So what do you think?

Is it worth my time?

Did I leave anything out of the renovation that a house that has been vacant for over 8 years needs?

Do you think my estimates are too hight or too low?

Thanks in advance for your info.