Need to find 130K cash & proof of funds by Fri 7/29 for purchase
Hey All,
I thought I'd send this question out here. I'm a beginner RE investor, did a couple of all cash deal(Tax deeds) renos and hold. Bringing a nice cash-flow right now.
One of the real estate agents on my team just sent me a property that I want to get my hands on.
Purchase Price: $112K
After Rehab Value: about $155K
Renovations (for rent): about $15K
Monthly rental expected to be $1,400 (though I'm doing my math with $1,200)
Expected closing date: September 7th
I'm trying to see how I can get the cash for this property and renos, without paying a lot out of pocket. It seems to me like the value/equity is there... and I wouldn't mind doing a refinance 6-months in to a typical mortgage with a bank or other.
Any ideas/suggestions on how to fund this deal?
All comments welcome. god bless!