Relook your ARV or rehab numbers. $5,000 of rehab most likely won't increase the value 55k. What kind of work are you looking to get done for that amount? Are you doing it yourself?
Thank you for getting back to me
House is in perfect condition and i put 5k just for little cosmetic touches, other than that doen't need any rehab done
From the description posted it sounds like it's already listed. Is there a lot of competition for this property? Because if the ARV is really 230k there should be a lot of competition. Talking in general concepts here since I don't know the market or property.
Another note is your holding costs will be greater than 30 days since it will likely take that just to close on the property. What are the days on market for homes in this area?
Yes it's a FSBO listed on zillow and trulia, i'm trying to wholesale this potential deal to a fix and flipper or landlord and since i'm a newby i'm trying to figure if this is a good wholesale deal.