Hey gang,
I’m making an offer on a huge reduced property this wknd. I’m hoping to find an investor with money to split the profit with. House was reduced by bank from $24,900 to $14,900. It’s a 3/1 well kept sfr near Ft.Sill, Ok. I am investing in this area because there are 23K soldiers coming to the base by the end of next year. I’m sure with purchase and rehab, at the most we’d be all in for no more than $25K. The ARV is $65K!! Aprofit split of $40K. My realtor is fielding about 8 calls/day from servicemen on their way. If you can help or would be interested in partnering for another purchase, pls. let me know. thank you!!Joanne
What’s your expected turn around time on the property? Do you have an exit strategy other than selling to service men? What are you basing your rehabbing costs on and finally do you have any comps to support your ARV?