Enough estimated profit on this flip?

[Greg Clark]

I'm looking at a potential flip. Is there enough potential profit to do this deal? It doesn't quite satisfy the 70% rule, but I'm being pretty generous with my repair costs I think (given the market and the property size). And this would be my first flip, so frankly, I'd consider breaking even a success for the sake of the learning experience.

The details are as follows:

$150k purchase price
$69k for rehab and holding costs
$20k admin/purchase/sale costs
$280k ARV (based off a nearly identical house recently flipped around the corner)
$40k desired net profit



This is what I have for rehab costs:

Paint	$5,000
Flooring	$5,000
Landscaping	$1,500
Kitchen	$20,000
Bathroom	$10,000
Roofing	$5,000
Trash Out	$1,000
Drywall Repair	$3,000
Basement	$10,000
Heat Pump/A/C	$4,000