Updated almost 12 years ago on . Most recent reply
should i flip this property?
i found a small 2 bed home for sale 750 sq feet for 185K, which needs about 15K worth of work...a flipped home on the same street just sold for 315K but is 950 sq feet and totally flipped.
should i buy it at 185K, then flip it and add 1 more room (roughly 225 more sq feet) to make it 975 total sq feet, at a cost of 25K or 110 per sq foot
185 purchase +25k in additional sq feet + 15k flip = 225 all in
After Rehab Value (ARV) = 320
would you flip this and sell to get gross 95K?