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Updated over 8 years ago on . Most recent reply

User Stats

24
Posts
2
Votes
Tab B.
  • Atlantic Highlands, NJ
2
Votes |
24
Posts

First Condo flip. basic question

Tab B.
  • Atlantic Highlands, NJ
Posted

hey. first of all thank you for your time and any kind of answers. really appreciated. 

So. I want to buy a Condo (60k) as my first flip and have a simple questions. (I have around 15k savings and My Uncle said that he can lend me up to 30k but i would have to show him a finished ready to sell product).

--so can i buy with 3% down with closing cost included in mortgage? after i fix it up (with my savings) and get it ready to sell. then can i use my uncles money to pay of more then 20% to make it a investment property?? and this way i can i sell it at any time i want without having to "live" there for 2 years before i can sell it?

Thank you again for any help.

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