Busy Street flip

[Lance Gorton]

I have a wholesale deal offered to me. It is on a busy street - 4 lane with about 30 cars / minute passing. Comps are 155 / sf. I am estimating 5% less on my ARV due to busy street. The deal does not leave me much profit if any - here is the catch. I have a great private lender and would like to get him paid and build the relationship. The rehab is simple and I am confident in my numbers. Should I risk not making a dime or even losing several thousand just to get this under our belt? I'm looking at this philosophically at this point.

[Greg Wright]

Just a thought you don't want your first deal with this investor to end being a bad deal with both of you potentially losing money.   Be patient and find the right house to put all the odds in your favour for a successful outcome.