Flipping houses is a great way to create huge profits, raise private money and create marketing content around your remodels (the reason HGTV is HGTV).

I have some properties in Abilene and have really enjoyed the market there.

A property is available off market that seems to be a great deal.

Luckily the market had moved in his favor so he was able to sell and didn’t lose that much money.

I’m looking for insights on how to put together a deal with the following details:Asking Price: $260KMarket Value: ~ $265KProperty Details: 3 bed / 2 bath / 1,400 sq. ft.Days on Market: ~100Loan Type: VA Loan (Attempting a VA Loan Assumption)Mortgage Balance: $200KThe ChallengeThe seller is behind on mortgage payments, and while I don’t have an exact amount, the agent mentioned it’s over $20K.

I dont believe so but am not an expert on the topic - I do know that in Texas at least, it is marketed for owner occupants first and then after a certain time period they allow investors to put offers in. 

Good potential for appreciation/rent growth upside as well in the next 5-10 years in my opinion with the market still being one of the most affordable in the country.

I am trying to figure out what to do with this property and would love to hear your thoughts or ideas around this.The rent is below market but the apartments arent updated.Options:-We could keep the property and make the repairs, but would be at a loss for a couple years until rent covers expenses.

This allocation should be based on the fair market value of each component, typically determined through an appraisal or the values agreed upon in the purchase agreement.

I think you have the basics of meeting partners and people to work with in your local market and seem to be well on the way with two deals going already so big congrats there!