DEAL ANALYSIS NEEDED ASAP!! HELP!
OK-ARV-$254 PRICE-$139K REPAIRS -$56K CLOSING COSTS-$1500
Buyer wants to hold prop for a year and then refi and flip it. He's looking to make $40k on the flip.. I'm looking to assign my contract for $10k.
Is this about right? Consider: $139k+$56k+ $1500 +$10k= $206,500
$254,00-206,500= $47,500. Now, should i subtract the 40k from that number? If so it's leave $7500 in equity in the deal..or should i adjust my assignment fee to reflect the amt of equity? basically, i'm just trying to make sure he won't cheat me out of my fee. Advice is greatly appreciated as this is gonna close w/in the next few days!!