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Updated almost 10 years ago on . Most recent reply

User Stats

18
Posts
1
Votes
Kwamena Odum
  • Real Estate Investor
  • Lovettsville, VA
1
Votes |
18
Posts

New Contract, Can't get lender

Kwamena Odum
  • Real Estate Investor
  • Lovettsville, VA
Posted

Hello All,

I just contracted a property in the Petworth Neighborhood of Washington DC. I am a newbie to this with a night job. I don't have my own cash nor do I have the credit. I am having a hard time getting a lender to complete the purchase and flip. I was able to negotiate the price of the house to $350.000.00 and have two contractors giving me quotes at $100.000.00 and $105.000.00. I am scheduled to meet with another contractor on Friday for a final cost of rehab.

I have yet to get any insurance or schedule any other professional work towards the flip. I need help. I am looking for an investor with the funds to go in on this flip at 50-50.

After repair values are in the range of $550.000.00 and up. I am hoping to add an additional room to also add the value. 

This is a great deal. Is there anyone interested in helping make my dream come true?

Kwame

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