First Deal Under Contract!

[Chris Arce]

After years of listening to BP, reading books, talking to people, I have my first deal under contract.

It’s a 3-1 house in Missouri (I know 3-1s are tough to sell J Scott).

Paid $19K in cash needs about $35K in rehab with an ARV of $130K.

Amid the coronavirus with unemployment going up and demand going down I know it’s not an ideal time to be flipping, but I feel a house for $60K is hard to lose on.

I have multiple exit strategies. I figure if prices turn south, I can convert it into a rental. Similar homes are renting for $1250 a month.

So excited for what’s to come, and all the challenges that lie ahead!! Any advice as I start out on my journey?

I'm partnering with my best friend on the deal and we opened an LLC beforehand.

[Andrew Chapman]

Good stuff.  Sounds like a good project to get started with!