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Updated almost 6 years ago,
What options do I have? Take a look! need advice!
Hi BPers,
I have an off market property, let me show you the numbers, please tell me what YOU would do in my shoes... :
SFH 2/1
Acquisition: 185,000
Rehab: 20,000
ARV: 250,000
Potential Rent: 1800/month
Taxes: 5,000 (yeah, NJ!)
I have the capital to put 25% down for a conventional renovation loan, but the only thing is no one will lend me money if I tell them i want to flip the property in 2 months. I have to hold onto it for at least a year. I was thinking maybe to renovate it and rent it out for a year and THEN flip it?