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Updated about 8 years ago on . Most recent reply

What am I doing...how to work these numbers???
Need some input!!
I do not have fantastic margins here..
Purchase price: $146k
Repairs: Cosmetic only. House is 2300 sq ft. $23k?
ARV: $215
Got a hard money quote ...30-35k out of pocket. Yikes.
Is that pretty much what I am going to be looking at, at closing?
Most Popular Reply

Depends on where you're at. If you're just starting, I'd say jump on a deal even if margins are tight. You will learn so much that whatever cash you make is just the whip-cream on the sundae.
I had no CLUE what I was doing on my first few flips (bought at auction). Hell, one of the first places I bought I coudln't get in (doors locked and you don't get keys at auction). So I crawled though the window. Well wouldn't you know, when I got inside there was a family eating dinner in the dining room. They were looking at me like "wtf are you doing?". I said "Uh, I bought this house. What are you doing here?
So yeah, if that was my start to RE investing, you'll be fine. :)