Equitable partner needed. Contracted for $170,000. ARV of $300,000
I'm looking for an equity partner in this deal. I have a great portfolio and flipping history which I can present. I have it under contract for $170,000 I also have a CMA that shows this home has an ARV of $300,000 plus.
I'm looking for hard money or an equity partner to split deal 50/50.
The house is "as is" and county appraised is valued at $183,603. Based off of MLS comps provided by the realtor the house has an ARV of $330,000 it zillows at $247,313. The Average purchase price within a 1.5 mile radius is $267,026.29. I am expecting the repairs to be $50k. That is a VERY safe estimate. I have NEVER underestimated the rehab costs on any project. I have the property under contract for $170,000k. The property could net $90k+. The house was built in 1967, its a 3 bed 3 bath, corner lot with a pool and water access to the gulf for boaters.
Plan is to purchase and flip in 30 days. Put it back on market for $279,000. It shouldn't last 30 days at that price. I have the ability to list myself or with an agent.
These are all very safe numbers.
Let me know what questions you have.
I can provide CMA and portfolio upon request.
Brit