Posted by Jim IL on May 01, 1999 at 23:22:40:
What kind of funds are needed?
Do you have the funds to do it?
If so, will this person do a partner deal with you?
Perhaps he will put the house into a trust naming you and him as “co-beneficiary” and you can fund the rehab and split the profits?
or,
Get the info, and see if you can “flip” it from him to one of your buyers.
just my $.02,
Jim IL
Young rehabber needs suggestions to fund rehab project. - Posted by Thurman
Posted by Thurman on May 01, 1999 at 22:17:34:
Yesterday, I had flipped a handyman special house to a buyer. As we were leaving the closing at a title office, he mention that a friend of his had decided get into the fix-up and sell houses business. He said that this friend had purchased a really run down house for $2,500 (seller financing) but he didn’t have the money or good credit for a loan to do the rehab work. This buyer ask me what I could do to help his friend to get the money to rehab the house.
I am to talk to his friend Monday about ways to get the funds to complete the rehab work on this house. Frankly, I don’t know if I can help him with any advise. So, I am asking if anybody here have any suggestions that will be helpful for this young rehabber and that I could learn a thing or two from your help.
Thank you for your time and consideration. You people are great!
Thurman