Hello, I am working on a property in Arizona for a great deal. The list price was at $99,000 but as I spoke with the realtor I was informed that if it were a cash offer they will sell it for $90,000. The estimated amount of repairs are at $15,000 and the comps. are at $153,000. I know a group of guys in Arizona which could take care of the whole rehab for 32 days. Properties have been sold in that area and at a decent price. Please advice since I have less than average credit but I am willing to keep the project on tract and am willing to split the profits of this project and build a strong business relationship since I plan on making quiete a few rehabs this year. Thanks
Why don’t you get a hard money loan and wholesale it with the rehad docs. You should be able to make a decent profit on that.
If you are going to wholesale it, you don’t need money.
If you are sure of your numbers then you first need to get it under contract or an option that gives you a few days to find an investor to work with you.
If you are looking to buy & rehab it, go to your local REIA meeting to find a partner. Or call I BUY HOUSES ads, signs and talk to the investors and see if they are interested in what you have.
Chris