we need some advise reagardig purchasing our first deal

[Brenda Montoya]

Good morning my name is Brenda and my husband and I are just starting in real estate, we have been reading, watching videos and attending our local REIA meeting but of course I am sure that many of you experienced fear of the unknown with your first purchase so we need some advise. We are going to look at a home today that someone is in possession of an assignable purchase agreement for. The house is listed for $95000 and the repairs are estimated as $70000 the ARV $250000. The comps run between $25500-$474000. We would probably need to borrow money for the repairs. Does this sound like a good deal? what would be the best financing option for us? We do have corporation set up so not sure if using a personal loan works since the corporation although it was established in 2003 it was under a different type of trade and does not have credit. Thank you so much.