This is a weird one...

[Tyler Hallman]

So a total newbie here, I've done zero deals but am looking to cut my teeth in real estate and looking to make this a career move. I've found a deal, I've run the comps, it all looks great. The deal was on the MLS funny enough BECAUSE..... it tested positive for METH. Yes. So im wondering if anyone has experience buying a fix and flip property that need remediation and how much it cost. I know it can vary widely but just looking to understand others experiences. I spoke with an agent and lender and they said I'd need 25% down.. I don't have that to say the least but I'm looking at a potential 60k return assuming remediation and reno cost 40k. I based that off of $20 per square foot rule. Its in a good neighborhood and comps are 100k+ higher. Maybe one of you would want to lend? I'm unsure, totally new here and want to learn. The bank said I can't do a 203k loan as I don't plan to live there... but can I lie and say I want to live there and just do the reno and sell? Uncharted territory here.

Thanks for any help!

Tyler

Also, I am great at creating websites, running seo for site, graphic design for funnels or flyers, google ads, facebook ads, and marketing (thats my business I currently own and work in now) so if anyone would be willing to education for my value or partner up im open to that also. I don't expect everything for nothing and am willing to do what I need to help others.

[Jonathan Greene]

There's a reason there is a meth house available and all of the other experienced investors have passed. Whenever you, as a brand new investor, think you found a deal on the MLS and it's been there for 30+ days or even a week, it means all of the tried and true investors know the deal sucks. The second you think you found the needle in the haystack as a newbie is the second you give away all of your money. Your first flip should be a lipstick job where the spread is small, but easy to get with no major malfunctions in the home and the flip job is too small for all of the other investors in your area.