HELP: Suggestions on Creative ways to Finance
I am a young investor who just recently got my first investment property. However, a very promising opportunity was presented to me. A duplex that has 3 BRs each unit hit the market at a very low price, but needs lots of work. The property is listed for 60,000. My father is a contractor who could purchase the house in cash and fix it up and sell it back to me at a much smaller premium then a fix and flipper. OR I was thinking about purchasing the house myself with a mortgage at 25% down and have my father fix up the place, refinance and pay my father for the renovations and labor. So, I am asking for is some help in structuring this investment any suggestions or thoughts would be super helpful!
Thank you