Would You Consider a $5,000 Prehab???
Hello BP'ers,
I have a partner that wants me to contract a property needing minor repairs, invest a few thousand dollars (of his money) into making it move-in ready and line up a buyer to close in our place; all for a few thousand in profit. In my experience I've never even considered the thought of gambling for short money, so I've been wrestling with this idea for about a week.
I do take calculated risks with my own money, but I'm not so quick to do the same with an investors capital, no matter how much or how little capital is on the line. He's not interested in financing a bigger project, he just wants to invest a few thousand.
In my opinion it's possible to do in a market where the right priced houses move in weeks, but I'd still like some other opinions on this type of move.