Looking for the best exit strategy.

[Charles B.]

Good Morning BP family, just coming to you guys for some advice. I came across a property in the Baltimore city area that another Investor is trying to get rid of. ARV is about 26k & its needs at least 10k in work. Asking price is 13k but I'm going to try to get it under contract for at least 10k. My first idea was to flip & hold for section 8 but I have some family issues to take care of so i cant really be a landlord right now & really need a quick flip to build my capital. If anybody could give me any advice or tell me the best exit strategy for this it would be greatly appreciated.

[Christopher Salazar]

This does not sound like a deal to me. At 26k ARV, thats got to be in a super rough area. Who would be the end buyer once it's completed? With at east 10k in repairs, there wouldn't be any equity in the deal for you to leverage. I would be very skeptical of any property with that low of an ARV.