Flip Deal

[Francisco Medina]

Hello Everyone, 

Long time reader, First time poster.

So I may have a deal in line, here is the info.

Arv- 350k

350k x 70% = 245k

Repairs - 35k

Funding 6% = 14,700

Target Purchase Price - 185k/200k

Quick facts

No mortgage, owned free and clear (Thinking owner financing)

I will be doing all the contracting (Licensed Contractor)

I will be selling the property (Licensed Agent)

So When it comes to funding, I spoke to my commercial landlord about possibly putting the money up. I offered 6%. 

I had a question in regards to the loan. May seem like a rookie question.

If I were to rehab the property and found a buyer in 30days, during the next 30 days (escrow) would I still have to put up the 2nd month 6% payment?

Also, any suggestions on how to structure the deal.

This will be my first flip, any insight will be greatly appreciated.

Thanks