Possible Deal

Rehabbing, Fix and Flip, Rental Properties
1

I have a potential deal that I would like your thoughts on.

REO Property.

Asking Price: 35k
Repairs: 15k (8 weeks)
Interest on Private Loan: 10% 5k Will repay Loan+Interest in 8 Months.
Total Invest: 55k

ARV: 85k
Sell Price: 80k

Potential Profit before closing costs:25k

What do you think of this deal?

2

there is no way on earth you should pay that much for an 80k property. In my market I can get 80k properties for 15k (Atlanta). Your total costs including your profits should be no more than 65% of the after repaired value of the property. That being the case you need to get this for about 10k.

Good luck