New investor in need of smart advice
hello bp community,
I am a long time browser and first time poster. The day after reading rich dad poor dad I began researching the world of real estate investing. Naturally I stumbled across this community and have been reading all the advice y'all have provided. I have now taken the plunge in securing my first property under contract and I would like to know what y'all think about financing, specifically, hard money or private lending in maryland/Baltimore area for a house flip. property details are as follows:
Purchase price: 60,000
House: 5 bedroom, 2 bath house
County Assessor information: land value: 68,000 building value: 110,000
Comps from realtor.com: $189,000
Please, someone give me advice as to which financing option is best and the likelihood of getting the financing.
Are there any investors on this site who are active in the baltimore area who are willing to provide financing? And/or partner or mentor me on my first deal?
Any advice is welcomed.
Thank you
P.s. rehab cost: 40,000