All Forum Posts by: Kim Goldstein

Yes. The 43,000 is with the new bath and it is only a half bath. The only full bath that is in the house is on the second floor. Which is why we were thinking a half bath on the main floor would be good. May have to forget that. Contractor said 1.5-2 months. With Fannie Mae if uninhabitable you can delay paying mortgage for up to six months. Arv would Still be around 265,000 if we ditched the bathroom as realtor said that was a conservative price, but said it would help sell Faster. My concern is all in at about 236,500 and sell at conservatively 265,000. Would I like to make $? Yes. Am I okay if I break even and call it an experience? Yes. Lose $? No one wants that. Just worries if I'm giving enough room with repairs if something goes wrong?

Thanks. How do you calculate holding costs? Do you have any kind of formula?

Sorry. I meant we can sell for 265,000, not 165,000. Is it too much of a risk?

Hello! This will possibly be my first flip and would like opinions on whether or not it's good or not. Fannie Mae property. Was listed at 184,900. They reduced to 174,900. My partner and I started with bidding at 150,000. Bank came back at 170,000. Our current bid is 167,500. Contractor gave an estimate of 43,000 to fix. Them there are realtor fees. It's a three brm, 1 bath with basement. We will be putting another bath in. Realtor says we can sell for 165,000 conservatively. It's our first so not looking to make a ton, but to gain experience and not lose. Opinions? Thanks in advance!