Looking at hard money - take the leap?
There is a possible deal on the table.
410k purchase price.
50k offered for construction costs
Using 150k heloc for down payment and holding costs
550k ARV (conservative)
111k cash back at refinance
$550 cashflow when all said and done
high amounts of leverage here. What are your feelings? It’s definitely worrisome but I do have other property I could sell worst case scenario?