Creative Solutions for this Deal
So I've been really excited about my first BRRRR deal. About 10 minutes ago, I got a call that the deal fell through and I'm wondering if there are any creative Solutions for this. Here are details:
Outstanding Mortgage: 14k
Tax Lien: 28k
Repairs needed 42k (contractor quote)
ARV: 85-100k (100k is a stretch)
It was brought to me from a wholesaler, he put it under contract for 17k, assigned it to me for 28k. Numbers weren’t perfect from the start, but I was fine with paying for an education on this.
I'm pretty disappointed, as this was going to be my first BRRRR and I was excited to gain experience. Maybe its for the best.
Just wondering, any “creative solutions” for numbers like this? My gut is telling me no, but just thought I would throw this out to the BP community for input.
Thanks!