First Deal on the first property

[Jimmy Jean-Louis]

Is this a good deal?

I live in fort worth Texas.  

I'm in the process of making my first deal I need help.

I have about $80,000 in cash for the purchase

Private or Hard money lending - $36000 to complete the purchase

I want to do short-term rentals like Airbnb or HomeAway

Rent ready

Selling 28k below market value

As is

Fort Worth TX area

House needs some TCL to flip

Property Specification
	Bedrooms: 3 Cash Price: $116,000 Bathrooms: 2.0 Garage: 0 Year Built: 1940

[Dylan Hargrove]

@Hao Dinh Hey there Hao. When it comes to estimating taxes it obviously depends on the state and your tax bracket primarily since flips are treated as an exchanging of inventories - like selling a newspaper almost - so for that reason its hard to give a specific number... In general I would say 28-25% is a comfortable estimate, and if it ends up costing you less then you can simply think of it as a pleasant surprise, and perhaps re-baseline your estimate using the local actual numbers you've accumulated! Hope that helps.