Good deal/ possible investors?

[Cory Buckner]

Could use some thoughts on this as my first real estate move and the likelihood of finding investors...

My wife's grandfather tragically lost his sister a few weeks ago and putting her hous, which also happens to be the family home he grew up in. He'd like to sell it to us, but financing that house that old could prove to be a nightmare....

Although, I recently started listening to The Bigger Pockets podcast and discovered the b.r.r.r.r. method for buying properties.

So I dont have any of the official numbers, yet, because this all just happened, but here's the deal so far. It's a single family house, residential area, at least 80 year old, 2 story, 3 bed, 1 and 1/2 bath, with a huge unfinished basement. It appraised 20 years ago for 76,000. As far as I can tell so far, it needs every thing minus most of the roof rehabed.

So here's the big question, granted I get it for around $30,000 and get a contractor and inspector out there to get me the actual rehab cost, would this be great first property to b.r.r.r.r.? Also, do you think investors would be interested in this property if the numbers made sense?

[Bryan Drury]

@Cory Buckner, For the BRRR strategy to be successful you need several accurate numbers.The ARV needs to be current, not based on an appraisal 20yrs old, operating expenses, rental rate, terms of long term loan. Your ability to get short term financing for the purchase an rehab are dependent on your network, experience, trustworthiness, cash, ect. Only you can answer those questions and take action if they need work. Good luck