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Private Lending & Conventional Mortgage Advice

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Adrian Hernandez
  • Contractor
  • Irving, TX
3
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14
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Contractor with a deal.

Adrian Hernandez
  • Contractor
  • Irving, TX
Posted Oct 9 2015, 07:34

My parents are selling the house through me(real estate agent and contractor). 

They agreed to let me flip their house. 

They owe 55k and the ARV is close to or above 175k. Repairs are at most 50k, since the last remodel was over 10 years ago. I have worked all numbers a couple of times.

I really only need a small 20-50k loan to fix and sell. I have 10k cash, but i know material alone will make me go broke. 

Just looking to see if anyone out there is capable and willing to make a little money off a loan. Won't be able to split profit, but could return interest on loan. 

I figure, it would take me a few months to save another 10k, but we really want this now.

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