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Updated almost 4 years ago on . Most recent reply
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Fix and Flip under contract - What's next?
Hello BP Members!
I currently have a deal in Abilene TX under contract for an extremely competitive price. I originally wanted to assign the contract with an investor that purchases houses for cash and flips them for a very good profit. I currently have the contract for $207k and comps in the area are looking around $400k - $420k ARV. I estimated that there would need to be $45k for repairs, plus some foundation issues that I was quoted would be $20k to repair. My investor has backed out of this deal because he's looking to slow down and doesn't want to take on a deal so far from where he normally does flips. This leaves me with a really good opportunity that I don't have the cash funds to support anymore.
What is the best way that you have found to find people to support your deals? In this case, I am currently looking for a flipper that would be interested in taking this contract for an assignment as I am more interest in the learning process at this point and not ready to take on a flip just yet. So I'm curious what you guys would recommend?
Thank you in advance!