BRRRR Advice For New Investor
Hello Fellow BP Members,
I'm ready to submit an offer on my first BRRRR investment in San Antonio, TX. The seller was remodeling the property and decided to stop the rehab work less than half-way of completion and now selling as is. There are holes in wall, floors partially removed, plumbing unfinished, foundation issues along with other remodeling work. I know it's a tall task for my first BRRRR but I'm willing to take tackle it on.
I worked out rough numbers and it may potential work, but before I send an offer, I would like some advice how to go about the next steps.
Here are the steps I’ve listed for myself.
1. I have made plans to call an engineer tomorrow to quote me for foundation repairs and a contractor for the rehab
2. If the numbers work, submit my application for Hard Money Loan
3. Submit the offer