Updated about 6 years ago on . Most recent reply
Looking for a partner and dont know where to start
Hi,
I am a real estate agent in Long Beach, CA and I have been exploring some buy and holds and flips. I haven't done a deal yet but some great deals come across my desk that are hard to pass up but are to expensive to venture out on my own. The most recent deal is a tear down 3/1 SFR up for sale for 600k. The land alone is worth 550k in the area because it is zoned as a four unit. It is the last SFR standing in the neighborhood as all others lots have been converted and comp at $1.8m-$2.2m. Even with knocking the SFR down and the cost to rebuild, the profit will fall in the $500k-$1.1m range. There are a lot of factor when run the actual numbers but I wanted to simplify it but that has me looking for a partner but I do not know where to start. Any advice?