4/3 in Lithonia, Georgia

[Jonathan Wilson]

I'm currently reading everything I can find on investing and flipping (just purchased J Scott's book). At the same time, I'm looking everywhere trying to find that one deal to dive into.

I came across a home in Lithonia, Georgia listed at $55,000. It's a 4 bed, 2 bath. 2,930sf. Listing also mentions it has an unfinished "mother-in-law" suite (not sure exactly what that is).

Rehab I can tell it needs without seeing in person: probably drywall, definitely  paint and flooring, probably kitchen and bathrooms, probably cabinets.

Comps: Other properties in the area similar to size look to be selling around $100k-150.

So I guess my questions are:

Is anyone familiar with Lithonia? Is it a good area to invest?

Considering that work that needs to be done, what kind of rehab costs could I be looking at? $30k? More?

Does this sound like a good deal to continue investigating or should I move on?

Any and all help is appreciated. I'm definitely a newbie, but I'm eager to learn some lessons and get started.

Thank you in advance!

[Account Closed]

I would most certainly have a qualified contractor walk the property to ensure that you have good rehab numbers.  I'm becoming a big believer in understanding the permitting process in the specific location that you are buying. That one is been a painful learning curve for me. And as always if you're looking to flip plan an extra two months of holding costs