Flipping without Buying

[Allen Fletcher]

Background: My parents lost their jobs in 2014 and were forced to move to another state. They tried to sell the house, but they were slightly under water on their mortgage (home prices still had not completely recovered from the bubble bursting at that time). They found a couple that wanted to rent the house for a year and then buy it. Their renters made changes to the house (without their knowledge) and then changed their minds about buying and left them with an unfinished house that had lost value due to the unauthorized renovations. My parents tried to short sale the house (they could not afford the mortgage and their rent) and put it on the market for $190k, the bank said the house was worth $230k which is $14k less than they owe on the house. My dad knows I am looking for a deal and offered to let me fix the house up and sell it (they do not have the capital to fix the house up) and we could share the profit.

The house is located in Southern Oregon, may parents live in Northern Utah, and I live in Ohio. Does anyone have any ideas on how I can flip the house while being so far away?

Sincerely,

Allen Fletcher

[Jeff B.]

@Jay J. OMG, all you did was promote of BP and gave nothing to the O.P.

Be a contributor, not another pop-up - - sorry man, you rang my bell.