Monday, November 10, 2008

Need funding for a flip, have buyer already!

Ok I'll be blunt, my credit is not that great after filing bankruptcy. Banks won't touch me even though my credit score is still about 650. But I have a deal that could make good money and give me a job for a few months.

I'm pretty sure we could get the property for about 35k, maybe less, put 20k into it (10k labor, which gives me a much needed job right now) and 10k in materials or so. Thats a maximum of 55k investment in this place, plus holding costs. I have an end buyer that I think would pay 75k for this house, but if you don't want the sure thing, we could try selling it on the market. Comp houses are worth 80-110k in that area. I think this place would be worth 85-95k easily after I complete the renovations.

If anyone is interested in helping with the project and want to make some easy money, email me: joel@4drulers.com

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