Potential Deal - Need Some Advice

Rehabbing, Fix and Flip, Rental Properties
1

I have been looking at this property for about a year now and I think I’m going to buy it. Its a house in Greensboro, NC. ARV is about 120K and it needs about 30K in repairs. The sales prices is at 69K and I’m offering $46K. Its in a nice location where businesses are all around. I just need alittle advice if I should proceed or not. I’m debating if I should just wholesale it or do a rehab. Please help.

Its 1446 sq ft 3bdrm and 1bad. Its boarded up but like I said in a nice area. Average retail value of homes in the area are between 120K - 140K.

So what do you think?

2

From your numbers it seems that you get the same profit if you wholesale, or rehab then sell retail.

First try to wholesale. If you don’t get a quick sale, then consider investing in the rehab and sell retail.

Retail sales are really slow right now, so if it does not sell quickly enough for you, consider holding for rental use.