Fix and Flip with a seller

1 Reply

Hello BP,

I have a seller that has a property for $150k but is willing to go down $130k. ARV is about $280k - $306k but it needs about $75k to 90k of work. I want to structure a JV deal with the seller. They will continue owning the property and I bring in a team to do the rehab work. If agreed, what should be stated in the and should I go through an attorney to outline the contract? What other obstacles could come up?

Originally posted by @Lamont Marable :

Hello BP,

I have a seller that has a property for $150k but is willing to go down $130k. ARV is about $280k - $306k but it needs about $75k to 90k of work. I want to structure a JV deal with the seller. They will continue owning the property and I bring in a team to do the rehab work. If agreed, what should be stated in the and should I go through an attorney to outline the contract? What other obstacles could come up?

 I would most likely do a seller-financed buy and own it.  You could probably offer more than $130k that way.

Leave yourself some time to cash them out when you sell or refi after rehab, but own it.  Clean and simple.