First Deal, not sure what to do
Hi everyone! I'm a total newbie to this site and to real estate. I wanted to see if anyone can offer some advice.
My friend's mom is selling her house and wants to let me flip it instead of someone she does not know. She is willing to work on my timeline within reason, so I will need to buy it within the next few months.
This would be my first deal ever. The house is in NJ and I am in San Diego (I'm originally from NJ.)
I'm being told that the roof needs repair or to be replaced. I am planning on going out there soon to get a property inspection.
I can buy it for 300k. I was not able to find good comps but I think ARV is 425k - 475k.
Should I flip this? I have people that can check on the contractors.
Should I wholesale it because it might be too difficult to manage from afar?
I just received advice that I should be proactive and order the inspection now..
Any insight at all is much appreciated!