21 March 2016 | 5 replies
Dear BP family,I received a lead from a middle-income neighborhood and I am trying to figure out the best strategy considering the following:Empty-nesters tired of home owners dues every six months, have a few recreational toys they are tired of paying storage so they may want to move if the price is right. 158K is still owed on the home but has been assessed for 204K Comps show that the ARV is 250K We are overestimating that the repairs would be 20K max as it is only 9 years old, granite countertops, hardwood and porcelain tile floors in good condition, crown molding, etc.4 bed/2 bath2681 sqftBuilt in 2007We personally don’t see this as a flip according to our numbers and while doing the numbers for a rental, it looks to be a negative cash flow…and that was without adding the HOA fees every six months.We are trying to look in the best interest of both the investor and seller.