Regarding my first investment Property - Should I go for it?

[Adryan Lado]

Hello everyone!

I am looking to invest into my first investment property. It is located in City Terrace, Los Angeles. Your opinion on this would be greatly appreciated! Would you take it?

It's a 2/1 property and I will be converting it to a 3/2 property. It will go from 648 square feet to 1,150 square feet after factoring in room addition and house expansion.

My purchase price will be $430,000 (all cash, no holding costs), and I estimate $125,000 in construction costs and permits.

I will be all in at $555,000.

The comps in the market place let me know I will be able to sell this property fully rehabbed at $685,000.

My financial deal overview is also attached Google Docs Deal Viewer

Any feedback on my numbers and thoughts on taking this opportunity would be greatly appreciated. If there is any more information to provide, please let me know!