Im searching for a money partner on my first deal. My husband and I are contractors we have found a Class C home listed at 72,900 the original asking price was 124,900 it is an REO. My agent says we should put a bid in for 40,000 it needs 10,000 tops in rehabs. My husband and I would complete the worked to be done. It has 3 bedrooms 2 full baths walk-in closets and an add-on which could be used as an office or 4th bedroom , fireplace. and a large handicap accessible deck in the back.
needs: New carpets, counters, kitchen floor covering, shower in the master bath , some dry wall patches the addition needs drywall for selling because they have tacky gray paneling in it and about 4 5 gallon buckets of semi-gloss white paint, water heater, kitchen stove and possibly a Fridge but thats just a bonus .
the most i would need is 70,000 because i won't agree on a price higher than 55,000 including closing costs. I would be willing to pay 112% back and if i cant sell the property with in 6 months i will sign the title over to you. MLS listings in the same town for Class C homes like this one are between 120,000 and 160,000
Thank you for you time in reading this
Looking forward to doing business with you.
