Stepping out .. still short

[Ron Flatt]

Ok folks,  just some thoughts.  I am working on getting a 3/2 sfh  1500 sq ft.  Brick veneer on a pier and beam foundation.  This property is going to need a total update.  The brick is very dated with two major cracks.  I have a bid of $50k on it and it will need 40K of repairs.  This is in an established well maintained area and should flip from 125-140K.  Will rent for $1300 when finished.  The kicker is I will be needing to raise the cash if accepted.  I have Lowes and Home depot accounts that will cover all materials needed.  Have 2 individuals wanting to pard on this deal but one wants 70% of profit with a max time of 1 year.  The other wants it to be a permanent partnership and use for a rental.  I try to limit my partnerships to from 2-5 years.  

Thoughts from the forum will be welcome.