Is this a deal?

[Timothy Johnson]

This SFH lingered a couple months on the market and then dropped dramatically due to the possibility of a foreclosure, after it dropped we quickly put it under contract.

Asking Price: 188,000
Price Paid: 185,00
Interest Rate will be 4.8%-4.9%

We bought it with a flip/rehab strategy in mind. It is an older house in good shape with an outdated kitchen and bathrooms as well. The house was purchased in 2005 for $266,000.

Any advice or thoughts?