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Updated over 10 years ago,
Very Large Rehab/only have earnest money
Hello,
I am an newer investor and I may have a rehab under contract as of tomorrow, but it is for a very large amount and all I have is the earnest money. The margins are not there for a wholesale but they are DEFINITELY there for the rehab, low ball estimate if held for 90 days profit is about 30k. So this is my problem, am I going to find an investor that will lend me (a newby) 444k to potentially make 20k. If not, what are the chances I can get a private lender to partner with me to maximize the profit to about 50-80k profit split 50/50 for 25-40k a piece? The money is there, why wouldn't they? Well, the only reason would be I'm a NEWBY, am I right or do I have a chance at this? All help is greatly appreciated!