is it worth rehabbing

Rehabbing, Fix and Flip, Rental Properties
1

I want to purchase a house that is brick and over 30 years old. The foundation looks good and the brick structure is holding strong.

Negatives: new roof 1200 sq ft ranch
flooded basement with mold due to pipes exploding in the cold period.
gut kitchen 15 x 13
3 bedroom 2 and 1/2 baths with garage.
ceilings damaged to due bad roof, going to put carpet down throught the whole house, wood floors old. nice size lot just needs clearing of landscape.
nice neighborhood houses selling for 120,000.00

owner quote of 30,000.00 sell price. Looking to put another 30-35m back into. If I can locate an honest rehabber in the St. Louis, MO area

2

I’ve seen in a number of posts around here that you need to look at getting a property for 70% of after repair value (ARV), minus your expenses in a worse case scenario. So if you’re looking at this one reselling for 120, at 70% of that value you’re looking at a price of 84k and with repair expenses of 35k you’re looking at an offer of 49k if all the numbers come in where you say. Anything better than that is money in your pocket.

Naperbill

3

Yes, sounds like a deal to me. I’m in St. Louis also if you need help with anything.