New property under contract, 3/1 with pole barn in northern mi

[Kyle Miller]

Deal #1
I have been searching around and finally found a house for sale that I was able to get under contract for $30k, It will need about $25k in work on the conservative side. The ARV based on sold comps in the area on the low side is $90. The couple that owned it gave up after tearing it apart, I negotiated leaving in the supplies they already bought such as light fixtures, interior doors, trim, & other various material. As of now I am short on funds, I have been conservative with my money my whole life, paying cash for almost everything and being self employed for 6 years has made it very hard for me to get a conventional loan. I have done a couple deals now my first one in grand rapids as that was my home town paying cash. Now i am venturing into hard money which has proven to be a challenge as well. So at my current status on this particular deal is in the hands of a hard money lender...

The house needs a complete bathroom and kitchen remodel (already gutted)
Flooring through out
Paint through out
Trim through out
some soffit and exterior trim replaced
front and rear porch/deck
windows through out
Exterior doors.
A good power washing (may be difficult with our cold temps).

Deal number 2
On a side note I am trying to work with foreclosures, and distressed houses. I found one that has note been touched in close to a year, is behind on taxes and a daughter inherited the house after mom and dad passed away. This house had a loan for 115k in 06 and then a 25k loan in 2013, so equity maybe available in this house if they want to unload. Which will hopefully fit the number for a hard money lender or get creative with the owner to sell it.