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Updated about 6 years ago on . Most recent reply

Ethan Colon's profile image
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Ethan Colon
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Ethan Colon
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Ethan Colon
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Wholesaling

I’m new to real estate investing

Ethan Colon
Posted

Got my first property under contract . Can someone let me know if I got a good deal. Property located in West Palm Beach Florida

Arv190k

Repair14k

3/1

1283 sqft

Selling for $149,500

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Christopher Cook
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  1. Hello Ethan. I live in West Palm Beach and am a fix and flip lender. Its not a BAD deal... but at that purchase price plus rehab budget, I would expect the ARV to be a minimum of $196,200. Ideally... at a $149,500 purchase plus a $14,000 rehab, you would want the ARV to be $210,250.
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