Flip/BRRRR Deal in Mount Vernon, NY

[Austin Pesce]

Hey everyone, my name is Austin and I've posted on here a couple times but I am in fact still a 22 year old newbie. Now, I found this really enticing deal in Mount Vernon, NY that seems to be a really fun first time project and getting my hands dirty...real dirty. It's a house in need of almost a whole repair of the house, not to be specific though because I am walking it on Wednesday (first walk and view). This deal is amazing to me and I really don't want to pass it up, but...

I am struggling to put together how I am going to find financing for the rehab on this deal. I am anticipating at least $100,000 of rehab to go into this property and trust me, I do not have that much saved up yet. I really want to be able to get the work done by myself (with help of friends/family) and subcontracting out the dangerous/out-of-my-league work I cannot do. However, I am trying to find out how I may finance this rehab in general. 

Sure, I can convince my parents to take out a HELOC and partner with them, or maybe I can find a lender to loan me money at a high interest for maybe a year of time. But the problem with this is I will have to pay them back quickly. Now, I really don't want to sound dense or maybe selfish? But I can't stop thinking about a potential downturn in the market taking away any profit I may gain from the flip, or not being able to sell in the first place. As for the BRRRR, this technique proves successful BUT I do believe it will demolish my cash-flow, which I m also trying to build. I can explain the deal in more detail to anyone who may want to take the time to help, otherwise I guess a general answer to see would help.

I guess my question is, should I be afraid of a market crash potentially hindering my ability to sell the house after tons of time and money being put into the house?

And should I be skeptical of this BRRRR because it kills my potential cash-flow (my real estate goal to have substantial cash-flow to not be held down by a job, by 26 more specifically so I can travel on a budget of course.) ??

If anyone could help, that would be amazing and I would appreciate it!!

Austin Pesce