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Michael Baradell on Muck Rack

Michael Baradell

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Buying Flip Property With Lease-Option?

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By Joe Villeneuve, Brian Gibbons, John Jackson, Michael Baradell
| BiggerPockets Verified
In Texas, I would never rehab unless I got the deed (sub2). I like minor rehabs and JV w the seller. Say $100K ARV and needs minor kitchen and bathrooms, everything else ok, eg roof, foundation, hvac, etc. Rehab costs $10K WE BUY HOUSES offer .65 = $65K less $10K - holding costs $5K = $50K That is a sh@t offer. I say, "Mr and Mrs Seller, I can bring my money in on the deal, we can partner, I get paid when the house sells. This will net you more money than the WE BUY HOUSES folks. Why?
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