My first deal
I just started my first rehab this monday.I have been preparing for this for about 6 months reading bigger-pockets ,jscott,and danny johnsons,websites countless times day and night .My background is residential and commercial low voltage wiring and new construction project management. The deal is as follows 2br 1 bath 985sf that will be converted to 3br 2bath when complete. Trying to figure out how to post pics.
purchase price $61,882( cash)
rehab estimate $43,170
AVR (agent says $175,000) the recent comps do support it, i would be happy with $150,000
closing cost and agent commission $14,000
Profit $55,948