Cash needed for 60 day flip.

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Bank Owned home in Eagle River Alaska. Held by Wells Fargo. 

Listing agent has informed me that Wells Fargo will be penalized if the home is still on their books past November 20th. The listing agent advised them to lower the price 40% and sell it for cash only. Wells Fargo is looking for a fast close of escrow. I have walked the property today and took pictures and video of the outside. It needs about 40-50 thousand in remodeling. Offers must be submitted by October 21st, with proof of funds. Offers will be reviewed on October 22nd. Listing agent currently has 4 cash offers. 

Listing agent listed the home for $395,000

Lowered price to $295,000

Assessed value in current market condition $395,000

Market price of home after renovation $450,000

Would need a 60 day loan for $290k Cash. Interest & Profit split negotiable 

Would need to borrow rehab cash to fix. 

Can make monthly interest payments. 

The home has an indoor hot tub. 2,700 sq. ft living space, 4 bedroom, 3 bath, 2 Car Garage, plus unfinished basement that can be finished to add additional living space. Beautiful mountain views and nicer finishes are installed. Very easy cosmetic flip with bathroom renovations. 

Please message me if you would like the photos and videos of home, or any additional information, comps or a complete market analysis.