Looking for an expert on a flip
I found a property near downtown Austin. The house next to it, is asking for $420/sqft at 3000sqft. It’s new nice all the upgrades.
This house has been on market for over 100 days. Bad shape. 800 sqft. They asking $550/sqft for it. Well overpriced. Land is eataimated at $320,000 on 0.2 of an acre. Big lot. 1930s home might be worth $20k but a tear down.
However there’s a tent ant on a m2m paying $1k/month.
CoMPS SELL AT $440/SQFT IN LEsS THAN 20 DAYs UNDER 1000 sQFT.
To the experts, how would you approach this investment?