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Updated over 4 years ago on . Most recent reply

User Stats

20
Posts
8
Votes
Jared Hockensmith
  • Rental Property Investor
  • Tampa, FL
8
Votes |
20
Posts

Advice on possible options with deal

Jared Hockensmith
  • Rental Property Investor
  • Tampa, FL
Posted

Hello everyone and thank you so much in advance for any and all feedback!

I am a first time investor and I have been looking to find and flip my first deal for the past couple months. I finally came across a potential deal and after looking inside and running the numbers, there is plenty of room for a solid profit.

Here are some of the rough numbers:

SFH built in 1966. 4/3 2816 sqft. ARV of 240-250k. Rehab of roughly 50k. Owners previously tried to sell at around 160k, was thinking of starting an offer at 100k, with max offer of 140k.

The only problem is that I had a partner who had a private lender, but all that fell through, and we were even getting ready to make an offer. So now I am trying to figure out if there are any possible options left. I can’t get any type of loan, including hard money. I’ve never wholesaled before and would have to learn a couple more things before trying, but might that be a good idea? Or should I try to just find another investor to hand it off to for a finder’s fee, asking them if I can help them through the deal to learn the whole process?

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