Is this enough profit to flip
Hi all, I need some advice from all of you! I am real estate agent and have a friend that is willing to front 100% cash and repair cost, I do all the work and we split profits.
I have found a condo for $165K, had contractors out all repairs will be $30k, finished sale price will be $230k. All the work is going to be contracted out. We can get in before closing to start demo and be finished in 30days.
Should I do this?
Most Popular Reply
@Michelle Steinacker, when you say you are "doing all the work" what does that entail? It seems you want to hire all the work out, correct? If you are paying a GC to run the job, and your partner is fronting all the money, you are really just choosing finishes, and overseeing the GC? I actually think in this scenario you have zero to lose. Your money partner is invested 100%, with you only having some time invested. If he is on board even with a tight deal I say go for it.