At a glance, a flip seems simple: sell it for more than you paid for the purchase and renovations. In reality, there are a lot of numbers that contribute to your ROI: loan payments, points, and interest (often multiple loans), renovation costs, sale costs… you can’t manage all those numbers in your head. Not to mention, if you have multiple projects going on at once…
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Your total return will be $162.7K
That's an ROI of 60%
This property is a good investment.
MogulMind would budget about $81.3K for improvements, whereas you are budgeting $111.5K.
You're spending a lot to flip this property, 37% more than we'd expect. Review your improvements… are all of them necessary, and priced competitively?
MogulMind believes that this property could sell for $396.6K, after improvements. You are estimating that it will sell for $450K.
You might be setting your sights a bit high for this property, with a sale price 13% more than we'd expect. The Zestimate price for this property is $330K.