what better place to go when you have a question starting then right here.
So here it is i have been analyzing a lot of deal and i came across a good flip opportunity in my home town. I am having an agent run more specif comos for the last six months but from what i found in my own research is as follows
2bd 1 bath 1000sqft SFH
ARV 200k - 240k
Rehab 25k-50k (likely in the middle)
Asking 95k
I live about 2 hours or so away but going to walk though saturday morning and sounds very promising we will be able to sign that day as well but will still be negotiating final price.
When i did the math conservatively
ARV 200k (low end comps)
Rehab 50k (overestimate)
Purchase 90k (little negotiating)
It plays into the 70% rule perfect and i really went conservative on the numbers. I would love to brrrr it but i need some working capitol for more investing so i think a flip is the best idea especially considering the spread for the investment....
I have hard money lending in place but will still need some money to get the ball rolling.
I am willing to do it by myself but was hoping to joint venture with someone more experienced. I am close and can manage the project.
What are some suggestions for funding the 25-35k to get it going if i were to do this on my own. Or do you have suggestions on finding a partner to fund that part for a percentage of the profits.
How would you do it. I am bouncing around some idea but would like feedback on how other would do it. With a partner or without and why.
