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Updated over 5 years ago on . Most recent reply

User Stats

9
Posts
4
Votes
Ben Hidalgo
  • Lafayette Louisiana
4
Votes |
9
Posts

Advice on Financing a Flip

Ben Hidalgo
  • Lafayette Louisiana
Posted

I found the House following the golden rule, "Find the worst house in the best neighborhood", now I need to research the financing side for the flip.

I am going to keep it short and to the point, 

My goal is to repair house in 6 weeks and put it on the market.

Following is the breakdown:

SQFT- 2015 

Purchase Price $135K       Closing Cost $3500.00,       Total $138,500.00

Remodel Cost $40K

ARV $235K

I have pulled houses for sale in the area as comps off Zillow and the houses average about $110.00 sf which seems low but using as a quick reference.  I reached out to my realtor and she is working on true comps but wanted to put this on BP to start receiving some feedback 

What would be some suggestions for financing the rehab?

 Appreciate the BP Community feedback in advance

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