Opinion on Potential Property Acquisition for Fix and Flip

[Armen Zakarian]

Hello All,

I have come across a property in Los Angeles County, California.  I have been running the numbers and it seems to be pretty promising.  I was wondering if anyone would be willing to provide their opinion on this property and if it would seem to be a sound investment?  

The property is a Short Sale.

PP-$275K

ARV-$410K - $430K (most recent comp sold for $457K 2 weeks ago)

Estimated Rehab Cost - 60K (unable to walk the property until the offer is accepted) 

Holding Cost - $1200 Per Month (6 month estimated hold)

Buyers Closing Cost - 3%

Seller Closing Cost - 3%

Realtor Commission - 5%

I am looking to get the loan from a private investor and will be looking for the loan to cover purchase, rehab and holding cost.  

This is my first attempt at a purchase so any help would greatly be appreciated!

Thanks,

Armen