Deal or No Deal?

[Kesia De La Fuente]

Hi All,

Newbie here in Houston. I have a home that I would like to get under contract for $125k but the owner is not wanting to budge at $130k. The home is 3/2/2 but needs about $15-20k in remodeling. Another home similar to this one in the area sold for $200k same 3/2/2, but that one is 6 years newer, 260 sq ft larger. Both homes have a pool. I'm estimating the ARV on this one would be about $180k.

Should I offer the $130k? Is this a good deal to buy and hold or flip?

Thanks,

Kesia