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ISO 30K Gap on a flip 35min from downtown Austin TX : Flat return, short term, or JV

Keren Brown
April 14, 2024 at 1:24 pm
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6

Hi investors! I have an off-market flip under contract with great margin in the upcoming historic town of Elgin outside Austin TX.

Purchase price = $230, ARV = $395, seeking Gap funds down of 30K, I already have the 50K rehab / reno covered.  Offering an 18% flat return within 6 months with auto-extension that bumps to 20% if paid anytime between 6-12 mo. Terms negotiable.

I would usually invest my own 30K but just tied it up, and this ones worth shooting for with a timeline of close on Apr. 25 (can extend).

Last week I performed my own detailed walk through in person, inspected all systems (heating, HVAC, AC, appliances) to verify new. Rehab goes to clean up/ paint, remove some false walls and carpet, quick cosmetic updates and staging! I have a commercial contractor team in place ready to go, we’ve worked together on 3 prior projects this year. Their last total tear out/ reno was a meth house and it was on rehabbed/ on the market in 2.5 months. This ones cake by comparison!

Exit: refi to DSCR cash-out loan at or before 6 months so I can pull equity and purchase my next rental (Acquiring STRS in unique, upcoming growth zones).

If you are in need of a direct booking site built for your STR portfolio I’d love to connect. The sites I build create one dashboard to handle all bookings that sync with the big box sites (Air, VRBO, Bookings etc). Thanks for your time!

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