Looking to partner on a deal/Monmouth County NJ
Hi Everyone,
I'm looking to partner on a deal in Monmouth County, NJ. I'm a licensed real estate salesperson in NJ and I've found a property that would be a good fix n flip. I'm looking to partner with someone on this deal, whether it be a silent partner or active. Its a 4 bedroom 2 bath single family home, approximately 1800 square feet. It's ARV is around $500K with approximately 100K worth of rehab needed. I submitted an offer of $275K, but the sellers want a proof of funds letter, which I've attempted to contact hard money lenders about, but they have either wanted substantial skin in the game or experience. Since I lack in both areas, I'm turning to BP where I gained almost all of my real estate knowledge! The numbers are as follows; ARV $500K less holding costs $50K, less Rehab Costs $100K, less purchase price $275K equals a profit of $75K. I appreciate the time and consideration, any advice or questions please post or send me a message. Thanks!