potential fix and flip deal.

[Austin Owens]

I am a newbie and want to share this potential fix and flip with all of the great minds on here to see if I have missed anything. I haven't seen the house in person yet because it is in a neighboring county, but I plan to see it early next week to get my rehab costs more dialed in. Any and all opinions and knowledge is welcomed.... thank you in advance. 3 bed 2 bath, 1831sqft, built in 1946, .30 acre lot. 145k cash only (wouldn't offer asking price) ARV 275 (lower end of value) rehab costs 57-60k ( I used 30$sqft because I haven't seen the property yet) 3 points for being a new invester = 6100 loan amount (since I'm a first time invester) 205k @ 12% for 12 months = 2400/Mon holding costs = 15, 600 (6months) includes taxes insurance and utilities for 6 months. closing costs = 19000 (paying 6% realtor fees,title fees, etc) total cost =245,700 selling price 275,000 = 30k profit. I also have equity that I have built up in my current home that I could use for renovations or getting better loan terms as far as putting some money down. Any and all opinion, advice and knowledge is welcome. thank you all