BiggerPockets

Purchase Price $139000 (includes my fee)
After Repair Value $163400
$4000 Repairs

Rents in area for this size of home $1050
Sqft Ft 978 plus fully finished basement

Please give useful feedback. I already have property under contract so I need to move quickly. Help Me Learn

I want to have the deal wholesaled before I close. My goal here was to take control and then give control to someone else quickly and cheaply.

Of course I will keep you up to date.

Glenn,
This is a bad deal.

You're at 88% of ARV with the purchase, repairs, and your fee. That leaves nothing for a fix and flipper. If everything went just right, they just might break even. Any hiccups and its a money loser. You would need to be at about $95K purchase price to get my interest.

As a rental, its not good, either. The rent you quote seems low for that size of a house, so that makes me think its in a bad area. There are numerous houses that can be bought in the 90-100K range that will generate that sort of rent. A good deal as a rental would need to be more like $60-70K.