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Updated over 1 year ago, 03/27/2023
Structuring A 2for1 Great Deal
Hello Everyone.! I have been keeping in contact with a motivated seller for over a year now. They own a vacant single family as well as a newly renovated 2-unit. They are elderly and the husband does have health issues. He has been renovating the 2-unit himself and they have been through hell with their subcontractor's help. The 2-unit is a huge stressor for them. The vacant single family is not a large stress. They told me to give them a number.. money talks and they would be willing to negotiate a deal.
My goal here is to purchase and hold the 2-unit. I would like to wholesale the single family home because its in a great school district and would be desired. It is a flippers dream. The single family also has a vacant lot beside it which could be built upon.. another great potential with this property and opportunity.
I'm wondering if anyone would like to chat about this deal and run some possibilities for creative financing. I don't have any capital for this purchase but I would really love to "know how" to fund this deal, or what options there are here. Even though I don't have the capital, I fully believe there is a way to help this couple and create a positive outcome for everyone involved.
Greatly Appreciated! Enjoy the day
Single family
-ARV $265K
-Rehab ~80K
2-unit
Market Value $175K
PITI~$1,600
Rental Income-$2,100