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Innovative Strategies

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Kalen Mills
  • Flipper/Rehabber
  • Ingram, TX
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37
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Owner paid too much can I help cut his losses?

Kalen Mills
  • Flipper/Rehabber
  • Ingram, TX
Posted Oct 21 2018, 02:09

I met with a FSBO today who bought a property for 90 k a year ago that needs 80 k in rehab, but most of the comps are at 150k. Owner can't afford the full rehab. A business partner recommended splitting rehab costs with owner and splitting the profits. With only 40k in we could get a good ROI and owner won't lose as much money. As it stands now I don't know who would buy this for more than 20-30k. Any suggestions on creative ways to make this property work?

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