Thoughts On Quit Claim Deed Rehab?
What do you think about this deal…(keep in mind I’m not a high roller yet)…
The deal is going to be “Quit Claim Deed”
115 House Mortgage
13 Assignment Cost (the middle men)
2 Repairs (curb appeal)
2 Holding Cost (mortgage is 1k/month, I figure two months tops from repairs to sale)
5 Selling Cost (3% buyers agent + 500 to put in MLS)
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137 TOTAL COST
145 Appraisal (I think I can sell for 150 after curb appeal repairs)
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8K profit (if I can get 150, 13k profit)
Thanks for the replies so far. Basically the only work to be done is landscaping because the house itself inside and out is above average for the area, but the yard is horrible...dirt with some weeds. Given the type of deal and the minimal amount of work, what margin of profit would make it worth while to you guys?
On a deal like yours, $25k to $35k would be a minimum expectation.
[addsig]