Is this a Deal in NJ?

Question

HI BP

I'm in the process of looking over a deal in Morris County NJ.

It is a 4 bed and 2 bath. Good schools in Morris county and less than 1/4 mile to a train station in Towaco/Montville.

The seller is offering 50% financing

Details below...ARV: $460-470K          2800 Sqft.Repairs: Roof, Painting, remodeling of bathrooms and kitchen  35-45K Selling Price $310KSeller Financing $150K  No interest 12 months Term: 10 years at 6%Cash 150KTaxes: $7800/yrI'm looking to wholesale it at the $310K priceLet me know if looks like a good deal?Thanks Anthony

ARV: $460-470K          2800 Sqft.

Repairs: Roof, Painting, remodeling of bathrooms and kitchen  35-45K

Selling Price $310KSeller Financing $150K  No interest 12 months Term: 10 years at 6%Cash 150KTaxes: $7800/yrI'm looking to wholesale it at the $310K priceLet me know if looks like a good deal?Thanks Anthony

Seller Financing $150K  No interest 12 months Term: 10 years at 6%

Cash 150K

Taxes: $7800/yr

I'm looking to wholesale it at the $310K priceLet me know if looks like a good deal?Thanks Anthony

I'm looking to wholesale it at the $310K price

Let me know if looks like a good deal?

Thanks Anthony

Antonio Pantano · Answer

Yes I checked the comps and they are in the same range...

Antonio Pantano · Answer

Yes I Tried that... but I'm trying to see if the deal looks like it will work for a flipper

Thanks for the input

Chris Townley · Answer

Did you run it through the wholesaling calculator?

https://www.biggerpockets.com/wholesaling-calculator