Advice on a SFH in Jacksonville, FL from wholesaler

[Yaron Avidan]

Hi all,

Looking for advice from locals on this deal from a wholesaler.  It's a fixer-upper property in zip code 32209 on Edgewood Ave.

Year built: 1956

Size: 1973 Sqf

4 beds 2.5 bath 

Lot is about 7000sqf with lots of trees that will be attended to during the rehab.

Price: 40K

Est rent: $1000

Est net rent after expenses: $560

Est rehab cost: $20K 

Est ARV: $75K

Looking forward for your feedback on this and similar properties in the range of 75$ after rehab in Jacksonville. Are those going to make good cashflow properties? 

I think it was purchased last year for half the price by the wholesaler $20K.

Thank you!

[Larry Fried]

@Yaron Avidan First, I would ask, who is providing the rehab numbers? Have you seen this house or do you have your own independent person (realtor, contractor, etc) to accurately evaluate the work that needs to be done, and how much it will cost. DON'T trust the wholesaler's numbers on either the rehab needed or the ARV.