We are currently starting a fix and flip project. The house that we have for purchase was appraised with an ARV $350,000 which we hope to sell at that price. The cost of the property that we had purchased was $215,000. We have a rehab budget set at $55,000. This will give us a return of $80,000 after sale of the property. We are currently looking for $25,000 to help us cover carrying costs and contingencies. My proposal is that the $25,000 will be returned at the sale of the property along with $5000 additionally, for the investment.
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