Is doing the brrr the right move for me

[Brandon Acevedo]

Hey all, I'm looking at buying this house and it's a total dump. But it's super cheap for the market right now. I currently own a home and am living in it. It's next to a college so renting it would be really easy. The house I want to purchase I was going to take a hard money loan out through family a member on top of them paying for rehab. I'm hoping to purchase the house for 150k put 50 into it for rehab. The ARV is roughly in the area of 280k-300k. My plan was to buy it rehab it and refinance. But move into the house with a roommate. And rent out my current house because it's bigger and has more beds and baths. I guess my question is, with me moving into the house I'm trying to BRRR, would it still work and be effective since technically I'm not renting it out except for one room? Thanks for the advice and your time.

[Brandon Acevedo]

I’m not necessarily saying that house will be easy to rent. I’m saying my current house is more sought after to rent because of how close to campus it is. I didn’t buy this house for the size. I bought it from my dad who used it as a rental with the thought of me moving out and renting it to college students. While I buy another to live in the next house. My father is the one giving the time hard money loan and he would t just give it to me if he knew it wouldn’t work out. He’s done very well with real estate in his life. My numbers could be off but according to my realtor there pretty close to what I think they are. I couldn’t answer why other investors haven’t jumped on this property. But I definitely get what you’re saying by it sounds to good to be true