Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

2
Posts
1
Votes
Jon Smarsh
  • Flipper/Rehabber
  • St Augustine, FL
1
Votes |
2
Posts

Trying to purchase 1st flip (need guidance)

Jon Smarsh
  • Flipper/Rehabber
  • St Augustine, FL
Posted

Hey guys, need some help...im looking to finance a flip. Its bank owned forclosure. Ac has been stolen house needs some work its been sitting a while and the carpets, kitchen and bathrooms are in need remodel. Ive done my research and the numbers check out and the ARV checks out. Bank wants 161k ARV 230k-260k. 4bd 2ba 2,000sqft. The bank who owns it says they wont turn on water or power for inspection. Ive talked with lenders and havent got a clear answer. I need to finance the purchase but without ac and the state of the kitchen, bath ect... I dont know if it would be considered livable thru appraisal standards. Looking for a conventional or standard fha loan cause i would reno it on my own. Planning to use this flip thru financing to sell and use cash to do next flip in cash and grown from there. Does anyone have advice?

Loading replies...