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Updated over 5 years ago,
BRRR Funding for <50k?
I have found a home for sale, that I think would be a good first BRRRR project. The problem I'm having is finding funding to get the deal done. The purchase price would be about $30K and it would need about $10k for repairs, mostly cosmetic updates. ARV would be about $75k. I have about $7000 but would to borrow the rest. I have been looking at hard money loans, but they either don't lend on such a small amount or there are about $9k in fees. Anyone have any ideas besides trying to purchase it as an owner occupant and waiting out title seasoning time?
Thanks in advance for any input!