Yeah Bryan you can do that; if you were to wholesale to another investor, it's what he would do (rehab it and either sell it or rent it out) - so you can elect to rehab it yourself and then sell it although generally when dealing with "family" they may feel "some type of way" about watching you flip this house and make ALL this CASH...
But if for some reason you were unable to sell it then go for it!
@Bryan Watson you could also "partner" with the family member where you front the cost of the rehab then split the profit on the flip. Just make sure you get put on the deed first so they can't back out of the deal on the back end and then you're out the money you put in the rehab. (Yes...even family CAN do such things.) I've thought about doing this with some of the off-market deals I've come across.
Thanks for the advice!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!