Great Fix and Flip Condo in Hot Austin TX Neighborhood

[Brian Cowan]

Investment opportunity for CASH or HARD MONEY buyers.

Owner occupied condo in hot 78704 zip code. Two story, 3/2.5, 1560 sqft, needs COSMETIC UPDATES ONLY to bring up to market standards since it has a 90's feel. No structural or mechanical issues. Backs to a greenbelt with a trail system maintained by the City. Next to Saint Edwards University and South Congress shopping, dining and entertainment. Gated community and HOA maintains all exterior, so you only need to deal with what is inside the four walls!

• ARV $350,000
• Repairs $30,000
• Price (including assignment fee) $255,000

Send me a message and I will email you our PDF property presentation containing detailed information, photos and comps. 

Please note: I am not a Realtor. I am under contract for this property and will assign it to a CASH or HARD MONEY BUYER ONLY. 

[Shawn C.]

@Brian Cowan

No offense but I believe your asking price is way to high. If you follow the 70% of the ARV minus repairs your asking price should be at $215,000.00 including your assignment fee.

This is how your numbers look.

$3330,000.00 ARV

$30,000.00 Repairs

$21,000.00 Real Estate Commission at 6%

$17,500.00 Closing costs and Buyer Concessions figured at 5%

$261,500 Grand Total- This does not include closing costs when property is purchased from you, holding costs, hard money loan points and payments and overages.

Because of these numbers I feel your asking price of $255K is to high. 

You may want to see if they will come down in their price and include seller financing, then it could make this a more attractive deal.

If you are able to bring the numbers closer to the 70% of the ARV minus repairs I may be very interested.