hi nancy its osvaldo ruiz thank you for the response the address of the property is 467 3rd ave in west haven ct through zillow . com if i put in all

Asked by Osvaldo, West Haven, CT Wed May 12, 2010

60k i will ower 161,000 the value will go up to 218,000 how are the sales in west haven for 2 familys im looking to flip the property is this a good deal

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Nancy Allen’s answer
Nancy Allen, , Milford, CT
Wed May 12, 2010
Osvaldo,
Thank you for your question. I am able to send you statistics of recent market activity. If you are interested, you may send me your contact info to my email address at nallen@prudentialct.com.

With regards to your question about the house being a good deal, it is not a simple yes or no question, unfortunately. I would want to understand all aspects of the property and your situation to determine whether it is advisable to proceed. A few questions I would ask. Have you inspected the property, and if so, what issues arose? What if the property does not sell immediately? Are you able to rent it out and cover the mortgage? What will the $60k be spent on: kitchen upgrades, bathroom upgrades or increasing the square footage? This is the key element of a flip. Where did you arive at the value of $218 upon completion?

This is a difficult market for. A flip may easily turn into a slow turn. I want to ensure that you are armed with as much information as possible before proceeding.

Thanks again
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