I have reviewed and researched a few deals with alot of potenitial, and deals to be made. The problem is the deals i have to make needs money. For example, one of the deals i have going on now, the owner does not want her house anymore here in Missouri, because she leaves in Hawaii and this property is a mess she does not want to deal with it. So i gave her a deal and she countered with, "you occupy it and fix it up with six month free rent, and you, Hurst Tipeni(thats me), will have to find finance to buy the property."
Now i don't have good or fair credit, and any chance of getting finance, so i decided to think a little different. Here is what i think:
-I will get an inspection to see how much is it to get the proprety up decent and show a little bread and butter.
-Have the estamated price of repairs to be announce to an invetor or someone that wants to help me in this fix and flip, and in three months or less, will have his investment money back with 75% of the investment with it. $10,000(investment money)x .75= 17,500 is the payback.
-The FMV of this proprety is 180,000, but im buying it from the owner for 30,000.
- Now im planning to sell it after the repairs and the investment payback is added with my agreed payment with the owner is also added, and figure out the price to let this property go in two weeks or less.
- and whatever is left is my profit.
I'm hoping this a good idea, and if it is will someone take my Investment Money offer for the repairs and will get a 75% return in 3 months and make this deal
PLEDGE ALLIGENCE TO THE SWAG
Next time you come up with a good deal, PM me and I will take a look. Thanks, Bent