I am seeking a partner to help me with my first flip. I have identified a property, and while I would qualify for a FHA 203k mortgage on my own, this short sale property is too cheap for my lender to accept. Can't find another solution.
The home and rehab costs will total around $89k with ARV at $149k. The property is a 2/1 SFH. I will give 50% of profits to someone who will help me finance and make sure this is a success. Please get in touch.
What's your experience, why should I trust you with my money?
Hi Kaitlin, send me a PM...I might be able to help.
Though short sales rarely work as flips. The bank has 90 days to review your offer (after the seller accepts and you make your deposit), and they usually come back and say "no, we want more money".
Three months is a long time to tie up your escrow deposit and have lenders, contractors, etc on standby.
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