First deal!!...Shall I wholesale or rehab?

[Ricky Prasad]

I found a nice property that needs about $20k worth of rehab in Sacramento.  4bed, 2 1/2 bath, 1600 sqft 2-story home

Contracted price of $142k

Rehab cost of $20k

ARV: $225k less (6% after home sells + title, escrow 1.5%)

This area has homes that sold within the past 3 months $219k-$240K

Foundation is sound, the home needs some interior paint, exterior work paint, all bathrooms done again.  Kitchen needs some work and carpet.

This is my first deal in the works and honestly, I am terrified of the rehab cost value with the "What ifs"...I have done rehabs before (family) but this one I am on my own.

My gut says no guts no glory!!