Creative Finance Idea

[George Love]

I am a newbie and would like some professional opinions on this idea: -Get a home ( w/little rehab needed ) under contract for 50% of ARV (from distressed homeowner) -Get a loan for 60% of ARV -Buy Home and use the 10% to rehab -Sell Home for ARV, making pretty good profit!! Please give me some feedback, point out the flaws, or let me know if this is a common strategy. Like I said, I am new to this and trying to get creative with little access to money. Thank you!

[Todd Rasmussen]

@George Love

Great strategic plan. I think every single one of your bullet points has about a hundred steps under it. I would create a more detailed plan and post specifically about your plan to find a home for 50% of ARV, How to finance a property for 120% of what you paid for it, and how to increase value 200% by doing 20% in rehab work.

Good luck!