I have a current deal at hand that I may let go, Not sure how much energy to put into it.
I a house locked up with a FMV of $155,000-$160,000 it is a short sale and the bank already approved for $120,000 looks like a 20% discount. Not the greatest deal, but also not bad. To make a long story short, I have 2 companies, and one had some major losses on paper due to 1 or 2 large contracts not getting paid, so we took a loss last year with one company and that does not help to get financed. I have inspected the home, needs $2000-3000 of work put into it and I was going to rent it out for $950 a month giving me a net cash flow of $250 a month barring any additional repairs. But if I cant own it myself, because bringing in a partner may not leave enough profit for two parties. I was trying to figure out how to purchase it and then just do alittle work to get it up to par and sell it in 2-4 months.
p.s I only have 10-12 days to close he deal
Residential Connection Group LLC