wholesale pre foreclosure

[Jorge Martinez]

HI Guys, I have a question? Might have my First property under contract, it's a pre-foreclosure! My question is the Arv:$235K if I put it for $195K and needs about 15-20 in rehab does that sound like a good deal? Pay Off amount in property is $184k!

property build in  2015 /1591 sqft /4bd 2bath  beautiful area.

anything would help thank you!

[Tom S.]

@Jorge Martinez  No, in short if you bought it, rehabbed with those numbers, and then sold...because the closing costs for buying and selling (including RE commission), who would lose money on this deal. 

And that's if everything went perfect with the above numbers you posted.  If the rehab went longer, you held it longer, RE market pulls back over the next few months, etc, then you could lose a fair amount of money.

I'm assuming you're flipping it, because your post said "if I put in the xxx dollars".  But for an investor it would be the same.