hi guys,
You all are amazing. I love all the feed back. Some of you are right on point. To answer a few questions, I'm not using a bank because they wouldn't approve this or my credit. #2 yep if he is going to give me the money, I want to do the project. The HML is a realtor and broker. #3 I got the comps from the sellers agent. #4 I haven't posted my numbers because I'm trying to figure them out. Keep in mind I would t see the place in person for the first time until Saturday because someone lives there. I'm not opposed to a full demo, maybe I will go with that because at least you can control prices more on new than you can on surprises. Everyone has to start somewhere and remeber, I've been trying to learn what a good flip looks like. So when they came to me with this deal, I'm like, let's do it! The house has been on the market for awhile and is listed around $28k. I'm not trying to pay more than $10k max. I dont understand why people would say a demo and rebuild is too much, I have 2 family members who are not in real estate, but got married and built their home, why can they do it but not me? If I said my score was 800 and I was going conventional, what would you say about that? If the only thing I get is a one on one with the hml, that's an opportunity. Why am I not attending an local reia? Because the closest is 4 hours away and they always meet during the week. I am a full time LPN so I can't just commute to these meetings. If I could create a virtual Reia I would but I'm way to new. If someone can send me a link on what to look for, I will walk away from this deal. I have a teachable spirit but I'm also fighting analysis poralisis. Here's the property- 917 Johnson Rd, lynchburg,va.