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Updated about 5 years ago on . Most recent reply
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Found a potential Fix & Flip
I found a potential fix and flip property in my local market. It needs minor updates to bring to its full potential such as a new bathroom, new kitchen, fresh coat of paint, new windows, new doors. Fully rehabbed comps in the area are selling for between $140,000-$160,000. I have never done a fix and flip however I have fully rehabbed my current rental property so I do understand project costs, management etc. My father is a real estate agent as well. My question is, how would I find financing for this or possibly find another investor that would be interested in fronting the money to go half and half on the profits?
Purchase price would be $70,000
Rehab estimate: $20,000-$30,000
ARV: $140,000-$160,000
Any help would be greatly appreciated, thank you for reading!