Flipping in this crazy market.
My name is Marcus Trahan. I have this house that I am in the process of closing on in Lafayette Louisiana market. I want to flip it. This would be my second house I’m flipping. I’m new to this world of flipping and I need some help. I got this house under contract for $163,000. After repair value is most likely $230,000 but could get all the way up to $255,000 according to the comps. I will have a total of $195,000 with realtor fees and repairs. This will take about 3 months to get the house back on market. I feel like this is a bad time to do a deal that is this thin. I’m worried about the market dropping or it sitting long because of all the COVID changes that are about to happen at the end of this month. This house has 2305 Square feet with 3 beds and 2 baths. What do y’all think?
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What did you end up doing and question how are you only spending 30k on rehab and sales cost and carrying cost and realtor fees and its going to take 3 months to get it done? 3 months is a lot of work?