Need Advice on Fix & Flip Project in West Palm Beach

[Shayan Sameer]

Hi BP Team,

Hope you’re all doing well!

I wanted to get your advice on a fix-and-flip project I’m considering in the West Palm Beach area. The property was listed as a probate, so I had to go through my agent. It was originally listed at $599K, but I was able to negotiate it down to $495K.

I connected with my GC, shared the pictures, and he estimates the rehab costs to be around $80-85K. Based on my analysis, the ARV looks to be in the $720-740K range, and after running the numbers, I anticipate a profit of about $40K including all the junk fees and agent fees.

A couple of things I’d love your input on:

1. Do you think it’s worth getting another quote from a different GC?
2. Would a DSCR loan be a better option than a hard money loan for this project?
3. Do you think this is a deal I should consider?  It's not a 70% rule deal.  

Appreciate any insights you can share. Looking forward to your thoughts!