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Updated almost 9 years ago on . Most recent reply

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Mastin Grove
  • Investor
  • Burleson, TX
0
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5
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Found an awesome deal now I need money??

Mastin Grove
  • Investor
  • Burleson, TX
Posted
I found a deal right around the corner from me. The house has just been listed 4 days ago. Now I need to find the best way to fund it. I'm considering two options. 1. Fix and Flip. I can do most of the work myself and that will save on repair costs. 2. Fix and Rent out. Possibly refinance for longer term. The house is 1,800 square feet, 3 bedroom 2 bath on 2 acres. Its a very nice brick home in an established neighborhood. It just needs a little updating. List Price is $87,000. It needs about 35,000 for repair costs. The average similar homes in the neighborhood sold for $230,000-$250,00. Very good profit margins.

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1,089
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Justin R.
  • Developer
  • San Diego, CA
1,158
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1,089
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Justin R.
  • Developer
  • San Diego, CA
Replied

Mastin Grove Get it under contract, then worry about how you're going to fund it. Money seeks out good deals, though I would be skeptical for a situation like the one you're describing - due diligence required.

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