Florida Deal!! Does this look profitable?? Please take a look!!

[Darius Falahkhir]

Hi BP,

I am looking to close my first fix and flip deal in Spring Hill, Florida (Kinda near Tampa) and wanted to see if anyone could help me out with the numbers to see if I would actually come out with a profit on this property after  purchase costs, holding costs, and selling costs

Here are the numbers:

Loan structure: 12 month, interest only, at 12%. will fund 90%

Down payment: 10%

HUD property: $96,769 (5806 of this amt are broker fees (line 6a. and 6b. on HUD contract)

ARV: 180-220k

Repairs: 60k

Appraisal: 450

lender fee: 3096

flat broker fee: 1260

Carry/holding costs: 

utilities: ?

insurance: ?

Property tax: $2361 (based on 2016 thru zillow)

Selling costs:

6% to agents to sell property: based on arv

Closing costs: ?

home warranty: ?

MLS fees: ?

A lot of blanks, I know. I'm trying to fine tune the numbers as accurate as possible because its looking like there is not much of a spread (if any) if sold at lowest arv (180k)

Please help!

Thanks!!!