Brand new investor- creative funding question???? Please help

[Greg Gerken]

Hi! I’m Greg from just outside of Pittsburgh looking to jump into my first flip. Had a question about a scenario I may be able to swing on a potential deal..... Know someone who has a vacant property in a great neighborhood- it needs approx 15-20k in updates. If I had the money to offer 60k, and fund the Reno I would but I’m just getting started. The comps in the neighborhood go 170-180k- if he’d go for it I’d like to propose I fund the Reno sell the house and give him 70k after sell, but how do I protect myself in the deal or should I just forget that route and look at hardmoney? Thanks in advance!