I can't get my numbers to work for me!

[Mike Faulkenberry]

Hi BP! I have a deal that I am looking at for a fix and flip, and every time I put in my numbers I am loosing money. I am being very conservative and have to use hard (expensive) money to do the rehab. Could someone take a look and give me a second opinion letting me know if I am missing something or if I am being too conservative with my numbers please? Thank you. 

Section One: Property Information
Property Address
City
Bedrooms	3
Bathrooms	2
Heat Source	Natural Gas
Purchase Price	$190,000.00
Estimated Repair Cost	$40,000.00
Estimated After Repair Value	$270,000.00
Garage	None
Laundry Room	None
Year Built	1930
Wiring Condition	Average
Plumbing Condition	Average
Square Footage	1250
County Appraised Value	$240,000.00
Section 2: Hard Money/Fix N' Flip Calculator
Purchase Price (B19)	$190,000.00
Purchase Closing Costs	$1,500.00
Repairs (B20)	$40,000.00
Holding Costs (W/S/G/PUD/etc)	$3,000.00
Down Payment (Skin in the game)	$90,000.00
Total Invested	$234,500.00
Total Cash Needed From Lender	$144,500.00
Points charged by lender	11.5
Points added to loan	$16,617.50
Total Loan Owed Lender	$161,117.50
After Repair Value (from B25)	$270,000.00
County Excise Tax Rate	1.53%
Excise (sale) tax amount	$4,131.00
Realtor Fees 6%	$16,200.00
Our Closing Costs	$1,500.00
Their closing costs (they'll ask)	$2,000.00
Total debits at closing	$23,831.00
Total cash received if sold now	$246,169.00
Total Money in The Deal	$251,117.50
Total Profit (pre-income tax):	-$4,948.50
ROI based on 6 month flip	-11.00%