Couldn’t get 100% financing, so I got a super deal, got a 65% 1st and put up the rest (all my money). I would be :banghead but it’s a great deal.
Time to rehab, needs 21k and I have nothing. What are my options. I’m still trying private funds.
Can I refi, get it rennant ready at least and fill it?
Should I try to get my money out just to do it again?
Is there somthing I don’t now about that may save me?
I quit my job, and moved back to the u.s. to do this full time. I will be rehabbing and investing in real estate as a proffesion. So I figure, I have a problem, I need a solution. There is always more to learn.
FYI property cost 38k, needs 21k sale price is 85k all day.
If you fix and flip, just hire a contractor to fix it, pay him at close of escrow. Offer him 15% on the balance until paid. How long is this going to take. Is the property really worth 85k? Maybe selling it for 79k might speed up the number of days on market? Questions. Questions.
I could dump it for 75 when done, a traditional sale could be 85 to 92.
Rehab could take 4 weeks max. I would do it cheaply, but no way to cheaply put on a rood and new floor.
I didn’t know it was that common a practice or that feasible. I’m going to meet up with all my contractors that bid reasonably.
I was thinking of letting them in for 50% of profit, i was just researching llc credit, which said pay providers 90 + days, so I’m gonna go for it, I’ll keep you posted.