My fiirst deal analysis please feedback

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Hi everyone, I just go over the fix and flip calculator to check on what I think is a deal. This a inherit property that the oldest daughter of the family i selling because she do not carry the mortgage and or property responsibilities. She wants to sell and I founded because is a co-worker of my wife. It is a single family 3/2 in Miami Gardens 1075 SF located in a big lot around 9K SF good condition but needs a bit of a fine tune from what I captured from photos (painting/baths/other). It has been 31 days in the market so far. They are asking $230k, the median for that area is around $255k and my ARV calc came up at $254 putting $15k in repairs. Max allowable offer came at $185 for a desired profit of $30k ROI 15% but for my very first deal I’m good with anything between $20-30k. Again, the property is in good condition so repairs could be between 10-15k but I choose $15k to be conservative. Here is the funny part...I’m excited, I’ve done my homeworks, I’m getting educated-strong job+income etc etc but don’t have too much or very low low liquid$ to get into. I’ll do that homework too but may be you guys can shoot some good advice, ideas, options amd or feedback around this deal so I can keep moving and hopefully get my first deal done soon. I will really appreciate your comments.

Hello Heriberto,

I am a FL investor too, but am not very familiar w/ SoFL

My only comments are general.  First, all real estate is local, so maybe 1075 sq ft is avg for3/2  but it seems tight to me.  Generally, the off market deals should yield bigger spread. wonder how firm they are on price and if there have been any offers yet. Also, if you choose to proceed, please plan well before closing to keep carrying costs down (so those costs don't eat into your profit.)  Good luck.

@Elise Hazzard Hi Elise, thanks so much for your advise. Yes, I agree with the SF comment, for me they are asking way far from what what is really worth perhaps betting on the potential of the lot (huge patio around the house) that easily accomodate an extra room extension for example. But as you mentioned I need to check.