Flix and Flip Deal

[Patrick Rowe]

I have a opportunity to a single family flip deal for $76000. I figured It would take $20000-$25000 to rehab the property. I look at some comps and figured the property would be worth $130,320. I have a banker that will do a rehab loan to make the purchase and rehab this property with out a down payment. Our lender will lend 80% of the ARV and if I bring a deal to him were I can purchase the property and rehab it for the 80% there no down payment required. I'm also considering make this a buy and hold investment. The lender will do a 30 year loan at 5%. Let me know what you think about this deal as a buy hold or fix and flip? I talked to a property manager and they said it would rent between $1100-$1200.