Off market Rehab in Cincinnati

[Regina Smith]

I am a licensed realtor. I am active in my neighborhood (professionally and friends) and I had a neighbor call me and let me know about a vacant house that would be prime for flipping. Her father passed and she's looking to sell the house as is after it goes through probate court in september. I am so excited for the opportunity because I see so much potential. For the last few months I've been gathering quotes from my contractors and analyzing the deal. The comps support an ARV of 215k.

I’’m totally doing ‘Death of a Salesman” and taking my proposal to the local bank and asking for a business line of credit. I know I want to get into flipping and investing and this is the perfect softball for me. I’m just trying to figure out if the local bank or private money would make the most sense? 

Any questions about the property is welcome, I may need a partner for this anyway! 

[Mateo Oquendo-Chandler]

If you're trying to find who will offer you the best deal than it sounds like you just need to get some price estimates and quotes from local banks, private money, and maybe even hard money lenders. If this is going to be your first deal then just make sure that you take your time. Run your numbers on best case and worse case scenarios. The more cash on hand you have to support potential problems that could arise, the safer you are during the process. If this is going to "break the bank" and you wont have any wiggle room then maybe you can look to whole sale or partner with an experienced local flipper/investor in your area.