How should I find my deal?

[Dale Graham]

I found a distressed single family home with and ARV of about $355k in south Florida. The owners are asking $319k but based on the Zillow pictures alone it looks like it's going to need almost 40k of rehab. If everything works out I wanted to BRRRR the property for a student rental.

I would like to ask for a lower price so I can be close to the 70% ARV ($248,500) and get all my money back with the refinance. Even then I would have to spend about 70k (30% down payment) to put a down for the hard money lender. Which would be almost all my savings. I'm asking if there is any recommendations for another way I can fund this deal? And I don't know anyone who has enough money to fund the whole deal.

[Bryan Noth]

@Dale Graham grabbing at 70% ARV will depend on the market and largely on the current owners need to unload the asset.

Dropping all of your reserves into a deal comes with a large degree of risk. If your ARV was off you can be stuck in a hard money loan. You could also have unexpected expenses come up. I should not say 'could', you most likely will, hopefully it is not more than a 10% variance.