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Updated over 5 years ago,

User Stats

24
Posts
15
Votes
Travis Phillips
  • Flipper/Rehabber
  • Hampden, MA
15
Votes |
24
Posts

Flip Analysis - Currently UNDER CONTRACT

Travis Phillips
  • Flipper/Rehabber
  • Hampden, MA
Posted

Ok. I do not have a BP calc to associate with this but I am using the house flipping spreadsheets (not a paid affiliate) but they are awesome and very in-depth. However, this IS my first deal basing my full analysis on this calculator. So I wanted to run through the numbers and bounce them off someone... anyone???... beuller?... hopefully... 

I have a 4bd 3ba 2100 sq ft property under contract for 195k - the current assessment (per realtor - said done by town? is 270k - this is an estate sale) - my version of comps puts it at 309k for a sale price. I have done all the number with a 290k sale price as well and even there it seemed worthwhile to me. 

Would love some feedback on if my rehab seems reasonable... it is a mostly cosmetic rehab. Paint ext/int, paint cabinets and new countertops, new appliances, new floors throughout, sand and repaint a large deck, contingency set aside for pool, power wash roof/clean gutters, new front door/back door/leave slider, new lighting and plumbing fixtures throughout, as well as all handles, cabinet pulls and so on.. -

@David Robertson 

1) maybe you could lend an opinion =)

2) if I'm not supposed to be posting a photo ill remove it

I have a home inspection tomorrow, where I will also finalize my scope of work... then I bring a contractor to walk through with me, have an official estimate on what I want to be done, have an official appraisal of the current value and ARV... close. get multiple bids. begin. finish ahead of schedule and under budget then get it into a bidding war and sell 10% higher than estimated... easy right?

Any insight on what I'm missing

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