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Updated almost 5 years ago on . Most recent reply

Nigel Giovanni's profile image
Nigel Giovanni's profile image
Nigel Giovanni
  • New to Real Estate
  • from NYC
  • Member since Apr 27, 2020
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Nigel Giovanni's profile image
Nigel Giovanni's profile image
Nigel Giovanni
  • New to Real Estate
  • from NYC
  • Member since Apr 27, 2020
Connect
Nigel Giovanni
  • New to Real Estate
  • NYC
1
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2
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Buying & Selling Real Estate

Need help with the numbers on a possible flip

Nigel Giovanni
  • New to Real Estate
  • NYC
Posted

Hey BiggerPocket community. I stumbled upon a property in Upstate New York that i am looking to flip. The property is listed at 50k. The ARV goes for around 125K-135k. Now, I have more than 20% for the conventional loan for the 50k(or perhaps they can go a bit lower), plus closing costs and other fees. Rehab costs i estimate will be around 40k-45k. Do i need to apply for a separate loan for the rehab? if so, how much money down is needed down for a rehab loan; and what are great sources fir such loans? Thanks friends! Any help is appreciated.

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