Updated over 9 years ago on . Most recent reply
Found an awesome deal now I need money??
I found a deal right around the corner from me. The house has just been listed 4 days ago. Now I need to find the best way to fund it. I'm considering two options.
1. Fix and Flip. I can do most of the work myself and that will save on repair costs.
2. Fix and Rent out. Possibly refinance for longer term.
The house is 1,800 square feet, 3 bedroom 2 bath on 2 acres. Its a very nice brick home in an established neighborhood. It just needs a little updating.
List Price is $87,000. It needs about 35,000 for repair costs. The average similar homes in the neighborhood sold for $230,000-$250,00.
Very good profit margins.
Most Popular Reply
Mastin Grove Get it under contract, then worry about how you're going to fund it. Money seeks out good deals, though I would be skeptical for a situation like the one you're describing - due diligence required.