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Updated over 5 years ago on . Most recent reply

User Stats

39
Posts
29
Votes
Stephen Solano
  • Investor
  • Miami FL 33137
29
Votes |
39
Posts

Found a potential Fix & Flip

Stephen Solano
  • Investor
  • Miami FL 33137
Posted

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!


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