Buy a flip house for more then 70% ARV

[Damien Papillo]

A friend contacted me about a house and told me the

Purchase price : 142k

ARV: 250k because he feel it would sell for that much based off a house selling for 245k in the same neighborhood

Needs about 50k in rehab

My friend said he needs to have the place sold ASAP. I looked on Zillow and none of the houses on that street are even touching 200k. But my friend had flipped plenty of houses and says I can definitely make 20-30k profit.

I just know that the purchase price and rehab do not amount to 70% ARV. I have not done a RE deal before accept when I initially bought my house. This would be my first deal and I have been struggling to find deals. Should I pass ??