[Calc Review] Help me analyze this deal
*This link comes directly from our calculators, based on information input by the member who posted.
Quote from @Gino Angelo Peguero:Looked it up on Zillow. Looks like a tear down to me. I don’t know the Atlanta market but I cannot believe list price is $200k.
*This link comes directly from our calculators, based on information input by the member who posted.
I'm not seeing enough info to give relevant input. What's your plan? Rehab for rental? Fix & Flip? Have you seen the property in person (I do see you're in Atlanta, so I hope so)
Where did the $120k rehab amount come from and what's included in the scope? Looks like a pretty big job with structural work to do. Who's doing the work, and how in control of the schedule are you? Right now, everything is expensive, hard to acquire, and decent workers are already busy. Three months holding time might be optimistic for Atlanta, if you need permits, or if anything happens that stops progress for any length of time.
A 1935 house can be cool, but will have all kinds of hidden surprises.
Quote from @Matt M.:
Quote from @Gino Angelo Peguero:Looked it up on Zillow. Looks like a tear down to me. I don’t know the Atlanta market but I cannot believe list price is $200k.
*This link comes directly from our calculators, based on information input by the member who posted.
Yeah, I also think the same, it has a great foundation, 200k seems high but keep in mind you can't even buy vacant land in west Atlanta for that price anymore, maybe 2 years ago you could have got in for cheap. But with interest rates going up and inflation, everything is up
Quote from @Anna Watkins:
I'm not seeing enough info to give relevant input. What's your plan? Rehab for rental? Fix & Flip? Have you seen the property in person (I do see you're in Atlanta, so I hope so)
Where did the $120k rehab amount come from and what's included in the scope? Looks like a pretty big job with structural work to do. Who's doing the work, and how in control of the schedule are you? Right now, everything is expensive, hard to acquire, and decent workers are already busy. Three months holding time might be optimistic for Atlanta, if you need permits, or if anything happens that stops progress for any length of time.
A 1935 house can be cool, but will have all kinds of hidden surprises.
I'm the listing Agent, I'm trying to get as much info as possible and putting myself in the mindset of an investor. If it were me I would just do the brrr strategy. They are comps in the hunter hill subdivision around 399-460k. I personally think in next 5 years homes will be worth around 500-600k.
Quote from @Matt M.:
Quote from @Gino Angelo Peguero:Looked it up on Zillow. Looks like a tear down to me. I don’t know the Atlanta market but I cannot believe list price is $200k.
*This link comes directly from our calculators, based on information input by the member who posted.
I closed this month for 180k, I season flipper with a crew bought it
Quote from @Anna Watkins:
I'm not seeing enough info to give relevant input. What's your plan? Rehab for rental? Fix & Flip? Have you seen the property in person (I do see you're in Atlanta, so I hope so)
Where did the $120k rehab amount come from and what's included in the scope? Looks like a pretty big job with structural work to do. Who's doing the work, and how in control of the schedule are you? Right now, everything is expensive, hard to acquire, and decent workers are already busy. Three months holding time might be optimistic for Atlanta, if you need permits, or if anything happens that stops progress for any length of time.
A 1935 house can be cool, but will have all kinds of hidden surprises.
Thanks for all of you're input, the plan was always to fix and flip, deals are out here.