[Calc Review] Help me analyze this deal South Jersey

[Jason Matthews]

View report

*This link comes directly from our calculators, based on information input by the member who posted. I want to wholesale this deal or do a Joint Venture. Seller is asking $74,900 and based on the comps I found the ARV is $168,900. This is possibly my first deal. I need help, and any feedback is appreciated.

[James Masotti]

Originally posted by @Jason Matthews:

View report

*This link comes directly from our calculators, based on information input by the member who posted. I want to wholesale this deal or do a Joint Venture. Seller is asking $74,900 and based on the comps I found the ARV is $168,900. This is possibly my first deal. I need help, and any feedback is appreciated.

1. Where is the property located? Its hard to help evaluate your ARV or your rehab budget without knowing the location of the property as these both can vary by locations
2. If by South Jersey you are referring to Camden/Gloucester/Burlington than here are some additional thoughts
3. Your Purchase closing costs should be closer to $3,500 not $2,000
4. Rehab budget could be as low as $65,000 but I'd assume it's more like $80,000
5. You should be planing for at least a 180 day hold 90 days to renovate and 90 days to market/sell/close
6. $20,000 is also a pretty small profit margin on a house needing 65-80k worth of work. I wouldn't do it for less than $30k profit

All this being said I think if you re-ran your numbers you'd come out with an offer closer to $45,000