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Updated over 4 years ago on . Most recent reply
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Looking to partner on flips
Hi everyone! I'm a licensed realtor and real estate investor in Texas, specifically DFW area. I have some capital but not enough with the stricter HM guidelines due to Covid. Looking for a partner on my flipping deals that I find that could put up the cash to close and just be a passive investor and let me handle everything else. 50/50 split. Please reach out if interested!
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I just experienced the same money issues with COVID impact (ie credit score > 800, own a $500k home, etc.) on my first flip deal and was able to go through my retirement on a line of credit, got a heloc, and personal loan from family for the last 5% via promissory notes. FYI, it sounds like you're under a bind, but a 50/50 split is still waaay generous. Not sure if you've looked into reselling the deal itself to a wholesale buyer yet, but that's also an option.
Best of luck!