First Potential Flip - Need Advice
We are considering making an offer on an old 1938 3 bedroom 2 bath. They are asking for $140. ARV IS $271. We estimate repairs to be around $60-$70k. We’d also like to build a 1 car garage with a little added space for a work bench of something similar and since the comp has one and the other renovated houses on either side of it have garages with similar layouts. Around $10k to do this. In doing the garage we’re considering building a garage apartment for an income suite if it makes sense moneywise. Probably another $10-15k. We would make an offer of $120
Is it wise to add the garage? Thoughts on the garage apartment?