Flip this condo

[Thomas Hales Jr.]

I hsve an opportunity to buy an ocean front condo from someone who needs to sell immediately.  Estate sale.  The top dollar value is approximately 1-1.1M.  Seller agreed on $800,000 sell price, 10% down and holding the note at zero percent until i sell it.  I would put 25k into cleaning it up beforehand and if i want to flip it quickly id sell for 950k.  Let me know if i should flip this condo.  What could possibly go wrong.  

[Jules Aton]

I’m sure you know the many possibilities of what could happen but the things that stick out to me are ease of resale and holding costs in between. What is the condo fee and are there any assessments pending? $25,000 doesn’t go far if the condo is dated which if an estate sale I’d almost guarantee it is. People shopping in the million dollar range are unlikely to be interested in a pig with lipstick so be prepared to modernize. Let us know how it works out. The financing alone certainly makes it tempting.