Hey Everyone; Needing help to analyze this potential Fix'n'flip or BRRRR. I took advice from the previous reports I had done and picked a much nicer neighborhood with decent comps and rental rates. Below is a deal that I would be paying for in cash; the property is need of an updated kitchen, new floors, paint, and 2 bathroom remodels and a general facelift for curb appeal. I am estimating about 30k cash for renovations as I have experience in remodeling and expect to do a majority of the labour myself. My overall budget is 210k, I expect to close on the property for 170k, 30k reno, 5-6k closing costs etc.

Average comps for a 1200sqft 3/2 run about 285-305 ARV with a healthy mix of renovated and untouched properties. The neighborhood has had a fair amount of movement and improvements and property values are on a steady rise.

I'm trying to gauge if this is a good deal or not; AVG rents for a 3/2 in Euless are 2200 and I expect a minor amount of cashflow in the report. Cash for purchase and reno, expecting 4.2% on a 30yr refinance with self managed property. Let me know where I can improve in my reports 

Thank you! - David B.

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