Updated almost 9 years ago on . Most recent reply
Getting ready to do my first solo deal
Over the last several months I've spent a significant amount of time reading books, BP forums and almost anything I could get my hands on, to prep myself for my Real Estate journey.
I've finally lined up a hard money lender that is willing to work with me on doing a flip in the north Chicago suburbs. They are requesting that we do the deal and split all profit 60/40. They get the 40. They are willing to lend me up to $80K with cost of rehab included.
I have a great real estate agent lined up and have several options for RE attorneys.
Does anyone have any recommendations or insight on doing a deal like this?
Most Popular Reply
Sounds like that might have been a good thing though. You certainly seemed to be concerned that you were overpaying, might not make much money, and have a bathroom count that may be difficult to sell. I know you get anxious to do your first deal you want to jump at something and get going, but don't talk yourself into deals that don't seem like wins. You'll regret it.