Besides a loan from the 401k, have you looked into rolling it into a self-directed IRA?

i sold for 87k..wasn't a huge profit spread, but for a guy with little money, it gave me the confidence i needed to realize that i could make a living at this :)

I feel much more confident going forward with this.

Assuming:- $132K Purchase- $15K Rehab- $200K ARV- $10K Loan Costs- $20K Holding/Sales Costs (Assume 10% of ARV)That puts your estimated profit at:$200K - $132K - $15K - $20K - $10K = $23KPersonally, this deal is a little bit thin for me, especially if it's your first rehab -- it doesn't give you a lot of room to be wrong on your rehab estimate or your ARV estimate.But, if you're 100% confident in those numbers, it's not a horrible deal.I don't know any HMLs these days who will lend 100% of anything.

A bit of shameless self-promotion3.

Currently I see predominantly cash investors buying in Dayton in the areas that I "farm" but I feel confident that when the economy rebounds values will escalate to the point where retail buyer can begin to become a factor again.

I have read many self-help books but never had the chance to ask anyone in the real world.

I still plan to educate myself for another 6 months until I am confident enough about my analysis.I am also looking into getting a 4-5 unit apartment building, which I think would be a better investment.Thank you both for your input.

Is he self managing and are you going to.Get a break down of all of the rev and expenses.

I remember years ago some family members did not understand owning your own business or being self-employed.