Central Illinois Flip -- JV or Straight Sale
I had a flip that I was financing in Central Illinois go south and the investor will be signing over the deed to me today. I am looking to either sell this property as-is or JV with an experienced contractor / flipper. Here are the details:
- NW Woodford County, IL in a small town (Minonk, IL)
- Started off as a full gut rehab and I will verify current progress on Saturday. This is a smaller property so the right investor / contractor should be able to knock out fast.
- ARV is $65k to $80k
- Rehab: ~$15k remaining. Mostly labor as most materials have been bought. I will have a better guage if this is accurate Saturday
- Price: $33,500 net to me OR 50 / 50 split of profits using $33,500 as my base if you want to JV (I will cover all rehab costs)
Let me know if you are interested and we can see this beauty together on Saturday
Craig