Found a Few Houses [Part 2]

Cost Breakdown

Here's an update on the house that I’m currently looking at. I want to flip the house so put up a ruff estimate to see if the property is worth its keep. I made sure to over shoot each expense to make sure that I receive a profit. Plus I want to be safe just in case there are some miscellaneous expenses that come out of no where (its better to be safe then sorry). So far everything works great, but the real challenge starts after I inspect the property. I want to inspect the property before I make an offer simply because I want to know if there is some major damage to the house that might throw of my calculations dramatically.

Here’s my Cost and Profit breakdown Estimate:

Profit Calculation
	Total
Purchase Price of subject house.	$400,000
Estimated Repair costs	$100,000
Closing Costs	$3,000
Commissions and Sales Closing Costs	$21,000
10% Miscellaneous costs	$12,000
Month to Month Cost	$24,000
Grand Total	$560,000
Final Flipped Price	$702,000
Estimated Profit	$142,000