Updated almost 3 years ago on . Most recent reply
Owner financing/fix and flip question
I have a lead where the ARV on the property is 122k. It needs about 50k in rehab. The owner wants 40k. He has a 25k lien on the property. So he wants to walk away with 15k. I usually wholesale, but there's no room for profit. If I considered owner financing could I get a loan for just the rehab part? What would be a good way to work this situation? Market rents range from 1100-1400. Its a 5br house.