Hi,
I'm starting to search for a first flip property and have come across one that I've been evaluating just to see if its the right scope and price I'm looking for. Ideally I would like to make 15 - 20k on my first flip. Below are some basics on this property. Please let me know your thoughts.
303 Gentilly Dr, Katy, TX 77450
Purchase price: 83200
rehab: 25000
ARV: 145k
comps I have show that a couple similar homes have sold recently at 150 and 190k and there is one on the market for 169k. In addition there are two similar homes (same plan) that are valued btw 150 -160 on Zillow (ya, I know that's is not the ideal thing to go by:))
I will be looking more at this to verify my rehab estimate as well.
Looking to have full financing (100% from bank or current equity) and turn in 4 - 5 months max.
Any advise or help would be greatly appreciated.
thanks
