Looking for the best solution for my first deal.
I came across an opportunity to purchase a 4 bedroom 1 bath house. Approximately 1300 square feet. This house has a third floor for 5th bedroom or home office. Basement has dirt floor. Needs complete kitchen and bath. Needs new flooring and paint throughout. Needs furnace. Curb appeal is needed. This property is for sale by owner and will do owner financing but prefers cash. Owner is an investor too and needs cash for other investments. Now my credit is very poor and I have no money. The sale price is $15000 but will take 10000-12000 if cash offer. Now I am a wholesaler and I am looking strictly to build my cash basis. Do I flip the paper to another investor to rehab and walk away with a $5000-$10000 assignment fee. Or find the funds rehab it rent to own option get sandwich deal. My gut says this deal is a cash flow rental then refinance pull money out to rehab or rent to own have new rent to own buyers fix up the property themselves. Just not sure what strategy to use. Please help! :/