Need Advice Fast On Rehab! 190 Going For 110
Found a property with a market value of $190. Owner just moved out after being there 14 years. Payoff is $110. She is 2 months in arrears and the property needs about 20k in repairs. She is willing to give it up for payoff balance. It is 2400 sqft in a very nice area of San Antonio (Thousand Oaks area). I want to obtain the property, do the repairs and sell.
How do I obtain the property and funding to make this work?
JV w/ a more experieced person
flip it
sounds like it could be convetionally financed
203 (K) LOAN.
wholesale deal for $130,000.[ Edited by real_estate_now on Date 02/13/2011 ]
so how did it turn out?? I am curious, being in San Antonio and knowing the area