West Hollywood Flip?

[Norman Romero]

Hi BP community,

A great investment opportunity just fell on my lap the other day and I am in a situation in which I have all of the control but none at all. A few days ago an acquaintance of mine (who just started wholesaling) tells me about a property in west Hollywood he got the contract for. I Verified with my own eyes he actually came up big!! As-is value $1.9mil, got the contract for $1.5mil and selling it for $1.65mil. Home has not  been renovated since it was purchased in the 70s. needs about $500k to add to it and make it nice. Recent comps in the area selling from $2.8-$3.7mil. He is giving me first dibs on it but I don't know what to do. I don't have the money to rehab it myself, that is way outside my budget. any advice?