I found a 3 bedroom 2 story brick house in my home town. House needs a few new windows, and 2 of the bedrooms needs finished. They were gutted for new drywall and never finished.
My Aunt was the previous owner, and i have seen how beautiful this house can be. She let it go when she moved south and now i guess the bank is selling it,
Asking Price is 20k. ARV is an easy 50k, with 10k in rehab
What i would like to do is get some hard money 30-35k, buy, rehab, and the refinace and keep as a personal property for my family.
My credit is shot, but my wife had a 706 mid last time we checked.
What are my options?