Kansas City Fixer Upper

[Eric Rodda]

Need advice/help on a fixer upper I own here in Kansas City, MO. I bought the home about 2 years ago that I let sit up until about the last couple months. Took out a loan from the bank and got some work going on it via contractors. Just estimating I’m still about 50k - 60k away from getting it done and I don’t have the money to finish.

After the 50k - 60k I’ll be in about $75K - $85k or so (including purchase price). The home could potentially sell for $100k -$130k from looking online. Below are the options I have thought about exploring.

1. Look for a 50-60k loan through fund that flip or similar.

2. Look for an experienced investor that may want to partner up to finish this home.

3. Work on the home myself and slowly finish it. Will take about a year or so since I would only be able to devote weekends to working on it.

4. Sell the home as is and get back the money I put in ($25K - $30K).

This is my first real estate investment. The house is currently down to the studs. The roof has been replaced and the demo work has been complete/cleaned. Needs new elec, plumbing, HVAC, siding, windows, insulation/Sheetrock/Trim, Kitchen/Bathroom remodel. Some framing as well. All this is where the 50-60k is adding up.

What would you suggest? Any other options I’m not thinking of? Is the value there?