4/3 in Lithonia, Georgia
I'm currently reading everything I can find on investing and flipping (just purchased J Scott's book). At the same time, I'm looking everywhere trying to find that one deal to dive into.
I came across a home in Lithonia, Georgia listed at $55,000. It's a 4 bed, 2 bath. 2,930sf. Listing also mentions it has an unfinished "mother-in-law" suite (not sure exactly what that is).
Rehab I can tell it needs without seeing in person: probably drywall, definitely paint and flooring, probably kitchen and bathrooms, probably cabinets.
Comps: Other properties in the area similar to size look to be selling around $100k-150.
So I guess my questions are:
Is anyone familiar with Lithonia? Is it a good area to invest?
Considering that work that needs to be done, what kind of rehab costs could I be looking at? $30k? More?
Does this sound like a good deal to continue investigating or should I move on?
Any and all help is appreciated. I'm definitely a newbie, but I'm eager to learn some lessons and get started.
Thank you in advance!