FISHTOWN PHILADELPHIA FLIP $145K PURCHASE, $100K REHAB, $350K ARV SEEKING FINANCIAL PARTNER OR PRIVATE LENDER
My realtor brought me a pocket listing in the heart of the Fishtown section of Philly with the numbers listed above. The rehab number is probably a bit high but not by much. The ARV is pretty solid with plenty of sold comps to support it. The house is 3/1, 1650 sq/ft and a 3 story brick row. Scope would include digging out and finishing basement, possibly adding a roof deck, etc. to be competitive with the area. Depending on finishes, adding square footage, roof deck, etc. the ARV could be even higher, there's a sold comp on the same block for $400k but it's 2200 sq/ft.
The house is an active rental and a typical "grandmom" house as my realtor calls them, not in terrible shape but not updated in decades. Staircase layout is weird, it bisects the living room making a small parlor up front, then a small living room, then dining room and kitchen on the first floor. The house is on the 2000 block of Tulip St. in the 19125 zip and it's not on the MLS yet.
I'm open to any partnership or financing arrangement that you'd be interested in, I'm trying to avoid using HML though, that's last resort. Thanks!