First Investment for a flip
I need some advice in this investment
The Property is listed for about 120k 980sqft 2 bds 1 bath but I got the inspection summary and pretty much needs everything. The owner told me she is willing to go down in the offer (she knows that needs work) AC&HEATING, electrical, Plumbing and fixture, Crawl Space, roofing and attic.
I got an estimate from a contractor and he told me around 30k-40k for the rehab
Not sure about my number but this is what I got
ARV= $ 130K-140K could be more but I'm a little conservative!
Rehab=$ 30000 (being very cheap)
Profit=$15k-20k
closing cost=$2500
Financing costs about $10k
Selling costs about $2500
She wont go lower than 80k! is it any money to be made here if i get it for 80 with all the work that needs to be done?
I really appreciate any feedback or comments Thanks
The house is located in florida, and its for sale by the owner!