House flip without help

Lets say you were part of a reality show called “flip without help” the premise being that you had 60 days to do a purchase, repair and sale in the United states. You could not use your own identity, instead you were provided with a new identity which came with a 520 Fico score and you were unemployed, you are given $1,500.00 in cash to work with and you are not allowed to use any of your friends or family for personal loans or gifts, and you were not allowed to sell any of your existing assets to help fund the deal. Do you think you could make it happen?

Yes. . . but I get to pick the market!

I’m not sure a newbie could pull this off without help or lots of luck but someone with a little bit of knowledge and willing to learn fast could easily do this. In Houston, right now, this could easily be done.

Its doable. But forget purchasing it rather just control the property, fix then sell. Find a property that needs work. Tie it up on an option agreement for 3 to 6 months using your $1,500 (you don’t have to use all of it, of course) with the right to renovate the property. Bring in a partner who has the funds to fix or borrow it from a private lender (no friends and family). Fix it fast and right.

When the property is fixed, market to sell ASAP. When you find a buyer exercise your option to purchase and you double close. Move to next project.