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Updated over 2 years ago,
Just got my Lender Pre-Approval, What do I do now!
I currently got a loan for 300k with 10k down conventional mortgage. Im looking for multifamilies and just learned how to analyze them. From my point of view, I would have to offer below asking or charge above the area average to cover the 1-2% rule/50% rule on basically all properties I have looked at. Im looking for long time multifamily ownership. Am I better off trying to use the BRRR method (Buy Rehab Rent Refinance Repeat) in this market? My real estate agent is probably getting fed up with how many properties I wanna look at but its tough rn in STL and the avergae multifamily is selling between 5-15% above asking on already high market prices. Any Advice helps!!!