You buy it from him for $170k, and list it on the MLS for $300k.
If your comps a right (and they are probably not. Sorry, but it's true.) then you should have no particular problem finding an investor to provide the funds. Hell, I might do it myself.
What you don't do is get it under contract, run around trying to sell it, fail to do so, and weasel out of your contract leaving the seller in the lurch.
Send me a PM if you like.
Nice potential profit spread. As a new investor, I'm curious. How did you pull your comps? What is your assignment fee for this one? Have you estimated rehab costs?
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