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Updated over 1 year ago on . Most recent reply

User Stats

89
Posts
34
Votes
Season Price
  • Flipper/Rehabber
  • Maryland
34
Votes |
89
Posts

Looking for advice: Rehab 95% done but ran out of money

Season Price
  • Flipper/Rehabber
  • Maryland
Posted

Hi. I am in a pickle. I am at the end of a rehab in a good area, good school district, but I am at the last bit of work needed and I have run out of money. The property is listed, but the pictures show the work that needs to be done. We have had a lot of interest, but for the people with FHA (most of the community) we are running into issues. I'm not sure what to do. We had an offer for less than what we can take. We have had several people say they would be interested if we can get it to the finished line. More credit cards, or borrowing from family is not an option. We really are all tapped. This project put a hold on the other projects so there is no money coming in to even put towards the project. My agent and I have talked about billing the last things to the table, but for FHA applicants, that's not an option. Any suggestions are welcomed.

Most Popular Reply

User Stats

81
Posts
30
Votes
Replied

Hi Season,

Have you thought of potentially partnering with someone who can bring in the money to finish and get a piece of the equity for helping out? If you are not rigid in what you need, I'm sure someone can help come up with a solution. I would be interested to know the numbers, how much is needed to finish renovation, ARV, etc.


Please send me a message and I may be able to help out.

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