Potential Profit Calculated But Not 100% Sure

[Christopher Choe]

Hello so there's this property that I would like to acquire but I want to know if I'm wasting my time reaching out to them or is there a possibility that I could make money on this.

ARV: $500,000

Rehab: ~$33,500 (probably cosmetics but did 15*square ft just for an estimate)

Acquisition price: $390,000 (that's how much they owe on their mortgage)

Estimated Costs: ~$47,800

My AOC: $10k

Possible Profit for Fix N Flipper: $44,400

Are my calculations sound or is there something I'm missing? Anything would help, thank you.

[Ned Carey]

It is not a deal I would touch, but I would be interested to hear from those that work in this price range. 

I figure soft costs; cost to purchase, holdings costs, financing costs, cost of resale come to about 15% So that means all in at $425K is break even. Subtract your repairs, and you are left with $391,500. That leaves a total of $1,500 profit for you and the rehabber to split.