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?

Comments(3)

  • cjmazur3rd October, 2010

    JV w/ a more experieced person
    flip it
    sounds like it could be convetionally financed
    203 (K) LOAN.

  • real_estate_now13th February, 2011

    wholesale deal for $130,000.[ Edited by real_estate_now on Date 02/13/2011 ]

  • rickpozos2nd August, 2011

    so how did it turn out?? I am curious, being in San Antonio and knowing the area

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