Updated over 2 years ago on . Most recent reply
GROUP HOME BRRRR - Found a house
HELLO EVERYONE!
I have been given the vision of providing housing for the needy. I have been identifying houses that could work with the BRRRR method (or close to it) and I plan on getting 10X traditional rental prices by creating cooperative living environments where I charge by the bed.
I am new to this journey and I have identified a house close to me. I am thinking about putting in offer and I am looking for guidance as I go. I have been blessed with tenured help in the real estate world and I am posting in this forum hoping to have accountability as I face my fears of the unknown. I am currently here:
House purchase price : $125K max (preferably lower)
Renovation costs : $125K (overestimation)
ARV: roughly $300K minimum
Refinance: ---- pending analysis---
If you have time, please click the link to see the house and give any insight or things to consider. As always, I appreciate any assistance and guidance in advanced.
https://redf.in/MEeRV0