What am I doing...how to work these numbers???

[Brittany Villamil]

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?

[Cody L.]

Originally posted by @Brittany Villamil:

@Cody L. thanks I am worried with my margins being bad that I will just break even or worse. Any experience with buy abs hold timing??

 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.  :)