First Deal ( end unit ) townhouse 🏠

[Ben Mananggit]

Newbie here. After thorough reading books/listening to podcast/checking BP for almost 5-6 mos now, surprisingly my first offer was accepted. Its end unit townhouse in Arnold MD. ARV around 250k, I’m kinda excited so after my first offer of 175k was rejected in ended up offering 190k. It’s a foreclosure. I KNIW ITS HIGH. My initial assessment, the property needs some TLC, Rehab to rent - 10-15k rehab Rehab to sale - atleast 25-30k rehab OR I migHt DO minimal rehaB aND usE the propeRty for two yearS. BASICALLY IM A FIRST TIME HOME BUYER ASWELL CAN I GET YOUR INSIGHTS AND sUGGESTIONS. I HAVE PRE-APPROVED LOAN FROM WELLS FARGO BUT CAN I STILL APPLY FOR LOAN FROM LOCAL BANK? CAN ANYBODY NETWORK ME TO A LOCAL CONTRACTOR/INSPECTOR OR LOCAL BANK? THANKS GUYS MUCH LOVE