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Updated almost 8 years ago on . Most recent reply
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Selma House (ARV $165k, Purchase $90.5k, Rehab $26.5k)
ARV - $165,000
Estimated Rehab - $26,500
Purchase - $90,500
Expected Profit (as Flip) - $19,267.71
Expected Rent - $1,500/month
I picked up this 4/2.5 house in Selma (just outside San Antonio, TX), and figured I'd start a Deal Diary to track the progress and ask questions. It was built in 2003 and looks to be a pretty straightforward rehab. Depending on if I choose to rent or flip the house, the rehab could go up or down, but it is in an established & quiet neighborhood with great access to shopping, Costco, restaurants, the Air Force base. I don't expect it will sit long no matter which direction I go with it.
My first question: I tried the BRRR calculator and can't imagine this deal would lose money as 1 attempt said it would. How much would you expect to cash flow on a deal like this?