Looking For Credit Partners
I am a Custom Home Builder in the still HOT Texas Hill Country north of San Antonio. I have never used a "credit partner" before but it seems like a win-win for both parties. I would like to partner up with some one to build 3 or more specs a year in the $400k-$600k sell price. B]If you have any tips or advice it would be greatly appreciated.[/B]
I would have to pass on it. Just not enough profit potential to go thru all that rehab work.
You know, I just finished calculating taxable income from last year on each of our flips and rehabs and I have reached a conclusion: The skinnier the file of documents concerning the property, the more money we made. And the ease in which we earned the money.
Way too many possibilities of mishaps and cost overruns with your project with very little room for error. Of course, buy the house for $45K to $50K and it would be a different story.
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