My partner and I are under contract on a SFH in Denver for $675,000 that we are planning to completely rehab and add 2200 sq ft to. The numbers work, we have the architectural plans drawn up and are lining up contractors. We're seeking someone to partner with us who has experience with flips and wants to work with us on this one.
We're closing very soon, so if you or anyone you know might be interested, we'd love to chat ASAP! Thanks!
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
7y
@Beth Hickey that is a very tough price point. The time on market is the longest for homes around the $1M mark and there are more homes than buyers. Typically I would advise someone to get the partner before investing in plans. What kind of partner are you looking for? Money? Experience? Both?
Realtor · Denver, CO · Member since 2013 · 2k+ posts · 1k+ votes
7y
Why don't you have this lined up BEFORE going under contract??? Have you ever done this before? Why do you need another partner? Money or experience or both?
We did...it's a long story, but suffice it to say our financing fell through at the very last minute.
We are looking for money and/or experience. We've both done numerous flips in the past but my capital is currently tied up in a fourplex rental property. We have a bit of cash but not quite enough for the 20% down payment.
So we are sort of scrambling to make this work because it's such a great opportunity.