Help!! First Wholesale or Flip Opportunity! Need Advice!

[Kimberly James]

Hi Everyone! I really need some good advice. I am absolutely new to real estate investing and something may have dropped in my lap. I have a family member through marriage who inherited an apartment in a great area in downtown Brooklyn and she is doing nothing with it, not even living in it. The apartment is 1br/1ba and has a doorman, gym, etc. other listings in that same building have sold for upwards of $800k renovated (but those listings are majority 2brs). This apartment is large, but outdated. Should I approach her and try to get a contract and assign it to a seller for a little profit or should I try to get a loan from somewhere, buy the property, and renovate and sale it myself. She is looking to sale the apartment for about half of what apartments are selling for in the area. Thanks in advance for any help.

Kim