Updated over 5 years ago on . Most recent reply
To Flip or To Wholesale
My husbands' cousin called and asked us to buy her property for 10k. She's in no hurry to close as we are the ONLY people interested. It's currently a 4/2, but could be made into a 5/2. ARV is 200k with 6 month rehab time and average days on market 60-75. Contractors are all booked for months, but I have a very good one who has flipped houses and is willing to help us. I have the purchase of 5k now, 5k when I sell, and the rehab $$ in place, but need 10k for interest payments. I have one potential PML. Profit is only 30k as the house is FULL of mold and needs gutted to studs and joists. Do I keep looking for the last few $$ or wholesale?