Seeking a template to outline/evaluate a hott foreclosure FLIP deal

Financing, Hard Money Lenders, Private Money
1

I’ve got a line on a hot pre-forclosure deal that the bank is willing to short asap. We have a few days before this goes public and the price goes up. The net investment required is $330,000, to buy, rehab, and flip the house. The value of the home will then be $455,000 - $480,000, so there is $115,000 - $150,000 of profit to be made in 3 months.

It is a pretty sweet deal. I am personally putting in $100K, but I am seking a polished document that others have used to outline the details of a FLIP opportunity, a good vehicle to be able to take to the Investment arena to come up with the remaining $230,000 to do the project.

Any thoughts, suggestions are welcome! Thanks to all in advance, from Rochester, Ny.

2

If you find a good one…please let me know.

Thanks

3

The usual rule of thumb is to pay no more than 65-70% of estimated After Repaired Value, less estimated repair costs.

Use this formula, and you should have no trouble finding Hard Money Lenders.