Updated about 12 years ago on . Most recent reply
Deal or no deal? I'm thinking pass
3 bed , 1 bath , attached garage , nice fenced in back yard with a little over 1,000 sqft.
The seller is very motivated and says she's wanting 20k or less. Very good rapport with seller so far.
After looking at the residence once by myself and once with a knowledgable fix and flip investor he stated that the house needs 20- 22k in repairs. I estimated around 20k , in which he brought up new issues that I was unaware of.
The house comps around 50k maybe 54k .
Here's why I'm doubtful ,
50,000
X.70
= 35,000
-22,500 repair costs
= 12,500 moa
- 5000 assignment fee = 7,500 max offer after my profit.
My plans were to close w cash and try to resell with 10k profit . I don't know if making 5k is worth it to me.