Insight wholesale or fix-n-flip

[Brandon Malbrough]

Ok, I put a property under contract a little over a month ago. I knew the property price was more than my cash buyers would pay for a property, but the property was such a GREAT deal that I couldn’t pass up. So, the question is being the contract goes up on Aug. 15th and I haven’t had one solid offer. Should I start looking to raise money thru private lenders and do a fix-n-flip or should I back out the deal if I don’t get an offer by the 14th? Granite, I do live in a smaller town where cash buyers are far, few and in between..

[Kuba F.]

Perhaps I'm reading it incorrectly, but the confusing part about what you're saying is that it's "more than cash buyers would pay" yet you say that it is a great deal.  If it's a great deal, then the cash buyers should be chomping at the bit as great deals are one of the hardest parts of investing, so it's one or the other.  If no one else thinks they'll make money on it, how will you?  The problem with finding money to do it yourself is that your money source is also going to want to know that you won't be upside down on it so that they can get their investment back.

You might need to re-look at what price you need the property at for it to make sense as an investment, and try to renegotiate to that price.