First Flip Numbers of current deal
HI All,
We are in the process of our first flip. Wanted to share the numbers and see what people thought.
Sale Price of Home: $56,000
Rehab costs: $33,000
Fixed Costs: Don't have these numbers yet. Besides closing costs, realtor fee's, taxes, not sure exactly what else would fall into this category. Any advice here would be appreciated.
Comps: We have houses on single lots selling for $130,000. Our home is on a double lot with a deck. We are hoping to be in the $135,000 to $140,000 range.
Expected Profit (Assuming a 16K in fixed costs and a sale price of $135,000) = $30,000.
Wondering how this compares to other flippers out there.
Thanks