HELP WITH FIRST DEAL
I am looking at a property in NYC that is a single family duplex(285k). The seller is a developer and will deliver the house fully renovated. It will be converted into a mother/daughter with full live in bsmt(two bed on each floor). So three rentalble units upon delivery. I need about 5k down, and plan to put it back on the market for fliping at 350k. The problem is I can't get the loan by myself cause of credit and I am working with little money. I don't know alot of people to partner up with. Everyone is wishing/washing about investing. So what I want to know is this a good deal? And how can I get a parnter to go in with me? Or is this to big for me at this time? Any suggestions? Thanks! 
If you have bad credit and no money then you may just want to short sell it. Also I noticed your profit margin is less than 20%. I will walk away from any deal that doesnt have at least 20% in the deal. If you were to get a hard money loan then you need at least 25% to lose to the lender. My suggestion is to short sale this one and bird dog some others until you get some cash built up.
Good Luck,
Kyle
350 on 285 is not enough!
Are you sure you can get 350?
65k margin sounds nice but on 285?
Developer seller?
They might be cash tied but not your best seller type
Walk away and find something better!
or if you are sure it is worth 350k
don't buy just tie it up with a contract.
find your buyer and assign it!
But be sure it is worth an easy 350