Deal Of A Lifetime?

[Trevor Gillies]

My uncle has been investing in real estate for a decade or so and has about 10 properties.  He has one that he described as the deal of a lifetime and has offered to let me go in on it with him.  

He is proposing that we pay cash, 50/50 split $150k total on a house that he believes is worth 190-210k.  For you more seasoned real estate investors out there, what are the first things that you would check on before investing in a deal like this?  

[Wendell De Guzman]

$50k spread on a flip will only net you $30k-$35k. On a $150k, that's hardly a "deal of a lifetime". On rent to own, we make $50k on a $120k investment and that's net. You need to get comps, bids from several GCs, and talk to real estate agents to know your market more in order to do a successful flip.