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Updated over 2 years ago on . Most recent reply

User Stats

19
Posts
4
Votes
Barry Westover
  • Investor
  • Texas
4
Votes |
19
Posts

FRUSTRATED with $20k to spare

Barry Westover
  • Investor
  • Texas
Posted

I did my first flip in Gainesville FL, well it was a half a flip but thanks to the RE agent that is also a BP member ( Jennifer Baronna ) she saved my bacon and found a buyer to take over the half finished rehab. I still walked away with $50k thanks all to her ! fast forward 3 months my money is dwindling down from 30k seed money to 20k due to using it as income. Everything is so expensive here in Austin so I chose out of Killeen and San Antonio to go with SA due to a larger market. I have a GC ready to go. Found a killer deal that my small 20k all in would be enough , the deal was 58k pp (which i big 67k and still lost), rehab 100k and ARV 300k. This deal would have put me back in the race to play with the adults. Now I just feel stuck like chuck with no truck hat i cant find deals that are within my low budget. ANY VETERAN SUGGESTIONS WELCOME

Most Popular Reply

User Stats

19
Posts
4
Votes
Barry Westover
  • Investor
  • Texas
4
Votes |
19
Posts
Barry Westover
  • Investor
  • Texas
Replied

thats exactly what im doing is leveling up. its not a 300k property its a 58k property with 100k rehab by a VERY experienced GC. so all in its a $158k property. I said the ARV is $300k.

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