I've been a real estate investor, mostly rental properties, for the past 11 years in Clinton, MS, but only since January of this year have I become really aggressive with growing my portfolio. Long story short, I've bought 3 houses in the past 4 months (two rentals and one flip currently in progress). I have found a house with acreage in my personal neighborhood that I truly believe could be the best deal I've found so far. It's a 4/2 in an excellent area of town with approximately 1,900 sf (according to seller's estimate) but is stuck in the 1970's. I will be taking a closer look at it tomorrow, but I believe I can get it for less than $100,000. With around $30,000 for rehab, it would have a $200,000 ARV.

Bottom line is I have the bulk of my cash in my current rehab project. My bank is excellent to work with, but they are more interested in approving more rentals for me instead of fix and flips. I'm only in the beginning stages of building a relationship or two with potential private investors with little to no real estate background. So I do not feel like I'm ready ask them to make that leap yet. I plan to make an owner-financing offer, but I don't get the feeling they will be interested in that option.

Does anyone have any suggestions for my particular situation, or will I potentially have to kiss that one goodbye?

Much to my surprise I've had more positive feedback and activity from sellers than I was expecting this year.

Thanks in advance for any advice!

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A good deal for a flip just out of reach. Any suggestions?

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