I have my first potential flip under contract and I'm in the process of procuring financing for it. Can you please look it over and let me know if it's a good deal?
Comps are here:
Roof, Electrical, Foundation, and Exterior Painting costs seem low at a glance...but of course I have no idea what repairs the budget is for.
Otherwise, numbers look good if ARV is accurate.
At first blush, the ARV looks a bit high to me, looking at the comps. There's not a single listing that sold for what you estimate as the ARV.
It's hard to estimate the accuracy of your rehab expenses without knowing what's being done. What are you doing and where did you get the numbers?
I have a contractor bid for the rehab numbers.
I put the ARV slightly higher than the 2 sold comps @ 75k due to the area it's in per my realtor that I'm working with. I've lowered it to 75k now on the analysis sheet to be more accurate.
i cant say yes or no due to not knowing more info but with what i see and age of the house i would build in additional 5 k for hiddens and see if profit would still be good for you.
Hi. What is the name of the program you're using?
HiAriel Deleon. What is the name of that program?
Which program are you referring to? I used the BiggerPockets flipping calculator to create that analysis sheet.
Thanks for sharing more information. After looking at more information, I would say it's a great way to get started. Be prepared for cost overruns and unforeseen issues, but I still think you'll turn a decent profit on the project.
I appreciate the input!