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Updated over 7 years ago on . Most recent reply

User Stats

19
Posts
8
Votes
William Lee
  • Investor
  • Richmond, VA
8
Votes |
19
Posts

First time BRRRR help

William Lee
  • Investor
  • Richmond, VA
Posted

I am new to Bigger Pockets and new to BRRRR. I am looking at a 3bed/2br 1600 sq ft short sale property in Richmond, VA that looks to be a good deal. Asking price is $89,500. I am estimating a $20k rehab/update budget with an after-rehab value of $150k. Rent should be $1200. Running an analysis with the BP calculator shows a +$350 cash flow.

Can anyone advise to the best way to find money for this BRRRR? Is this a discussion board or a marketplace question? (I am not familiar with posting to BP.) What should I be looking at that when I am considering making my offer?

Thanks for any guidance or advice you can give a first timer.

  • William Lee
  • Loading replies...