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Updated about 7 years ago,
Purchase a Wholesale property as House hack with little $?
Hello Friends! Was sent a wholesale property here in a town I have been looking to purchase in. The house has is 2 bed 1 bath, with a detached garage and mother in law. I have been looking for something I can live in and house hack, in a seperate space. This property seems to be just that as I can live in the mother-in-law. The only problem is that it is a wholesale deal at 250k cash, and needs about 40k in estimated repairs to get it rentable. Any thoughts on how I can finance such a transaction? I am 21, making around 60k / year on comission, with 400$ in student loan payments and no other expenses so far. I could manage to scrape together probably 10k from my bank accounts, but nothing near enough to fix up to refinance if I used hard money. Any advice is appreciated, do not want to let another deal pass me by because of lame excuses.
Thanks!!!