Rate potential flip

[Faustin Hoover]

Hello. I am looking at a potential flip and wanted some input. If I ran my numbers right it makes sense but I could be wrong.

3 bed 1 bath house 1100 sqft. Asking price 11000. Looked at comps online and it should sell for around $91 a sqft arv. Potentially needs around 40k to 50k in repairs. After purchase and repairs and closing fees I am getting 30k to 40k in profit. Does this seem correct? Thank you for your input.

[Larry Turowski]

Quote from @Faustin Hoover:

@Larry Turowski the comps were similar and as close to it as I could get and no I meant 91 per sqft. So it would be close to 100k ARV. Thank you for the input.

Ah I read your purchase price as 110k. It’s 11k!!  Wow!