Would you take this deal?

[calnewb]

 First of all I just want to say hi to everyone! I just found this site about a week ago and have spent a couple hours each night reading all you posts, I have learned alot! The biggest thing I learned is that I have ALOT TO LEARN!

 There is a REO property that just came on the market and it seems like a good deal so I thought I'd run it by you guys and see what you thought.
 Heres the skinny, the property is 3bd 2ba 1850sqft on a 7200sqft corner lot. property selling as is cash only.
 asking price= $64000
 cost to fix= $15-20,000
 
 The only comps I found in the area were for homes with less sqft(around 1100-1300) and they sold from $130,000 to $150,000 in the last 4 month.

 Thanks for your time, this is a great group!

[nsu1997]

Welcome. Based on your numbers the list price is below MAO so it has the potential to be a good wholesale deal. What formula are you using to calculate MAO?

[AJ290]

A most important question needs to be asked:  do you have the cash in hand, or at least access to it?  If not, there's no need to analyze the numbers or even think about buying REO's to start your real estate career.

[atlaspm]

Are you 100% certain on those numbers? 

[idhomebuyer]

Better yet, what formula are you using to get your comps? They say you can start out at !/4 mile, 3 months. But, you can go out a little further say 1/2 mile @ 6 months, up to maybe 3/4 mile or a mile at 9 months close to a year but not more than that. Make sure when they are doing comps, they aren't pulling up bank owned reo's either.

Is is a FSBO or a bank reo?

 First of all I just want to say hi to everyone! I just found this site about a week ago and have spent a couple hours each night reading all you posts, I have learned alot! The biggest thing I learned is that I have ALOT TO LEARN!

 There is a REO property that just came on the market and it seems like a good deal so I thought I'd run it by you guys and see what you thought.
 Heres the skinny, the property is 3bd 2ba 1850sqft on a 7200sqft corner lot. property selling as is cash only.
 asking price= $64000
 cost to fix= $15-20,000
 
 The only comps I found in the area were for homes with less sqft(around 1100-1300) and they sold from $130,000 to $150,000 in the last 4 month.

 Thanks for your time, this is a great group!