Looking to do my first Brrrr deal.

[Jordon Haskell]

I have a couple potential properties that I would like to use the Brrrr method on.

I'm still not certain on the first loan though. I have a private lender who said he would be able to go up to $50,000 and I would need to get another $50,000 to get the house and cover the repairs. Would I talk to an attorney to set up the contract and if so, how is that usually structured.

I want to talk to a bank to get prequalified for the refi after a year, and how should that conversation go? Do banks usually have no problem with this type of deal?

The house is a 3/2 that i am going to offer $65,000 on, figure $30,000 in repairs and an ARV of $130000 on the conservative side.

Any help would be much appreciated.

[Jordon Haskell]

The 130,000 is a real conservative number.
There is a 3/2 four houses down the street listed for 189,000.
Thank you for the advice, much appreciated.