If the property does not need extensive rehab and is coming in at 50-65% then 10% assignment will work. If the property needs a lot of rehab and after all is said and done the property costs will be more than 80% of the ARV I generally do not accept.
Most times banks will only do 80-95% for OO properties so I always want a profit margin with that factored in.
If the property does not need extensive rehab and is coming in at 50-65% then 10% assignment will work. If the property needs a lot of rehab and after all is said and done the property costs will be more than 80% of the ARV I generally do not accept.
Most times banks will only do 80-95% for OO properties so I always want a profit margin with that factored in.