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Updated over 3 years ago, 06/27/2021
ISO: Potential Partner with Experience Flipping/Rehabbing
Hi all - I'm a new real estate investor about 40 mins east of Pittsburgh, PA. I recently bought my first property - a SFH near Greensburg, PA. The focus of my learning over the past 6 months has been strictly on buy and hold rental properties and those that need a little bit of TLC to increase the value.
A house just popped up on the market down the street from my first property. It's a foreclosure that the bank got for $2k and listed for $26k. It's a 3 bed to bathroom house in a top notch school district. From the pictures, it's not in bad shape at all..just very outdated and could use a good bit of updating. A quick search of other similar properties in the neighborhood shows ARV of ATLEAST 140k - I say atleast because the house that sold down the street for 140k last year is not as nice as this house could be made with someone who knows what they're doing. Taxes are dirt cheap - $~40/month.
I have the capital and desire to jump in, but I just haven’t built up a team of contractors yet to feel confident enough that the work can get done in a timely manner. Is anyone in the area looking for this kind of deal/partnership? I would want someone who’s done several flips/rehabs before to help me learn hands on. OR any suggestions on opportunities for me to try and wholesale this property as a first timer?