Does BRRR work with first time home?

[Ozzie Rodriguez]

Hello everyone l am pre-approved and looking for my first home. The BRRRR method work in this situation? Or how could l make it work?

I am doing driving for dollars and doing my first direct mail marketing. To find an off-market deal, the harder part is finding a good deal since l am carpenter l can make the deal work much easier but the hardest part is getting approved on a house that needs work. Is there a way l can go around this. To get approved for the conventional loan.

Approved for $200,000 3.5% to 4% mortgage rate. Much of the house in the jersey short need a lot but the

Ozzie Rodriguez, Contractor

[Jose Batista Abikarram]

Conventional loans are not nearly as picky as FHA loan so you might be able to make it work. Just make sure that when you are analyzing the deal you have to pay some of the closing costs twice. This is because you lose both with the first loan and with the rehab. As a safe assumption I would take the closing cost X2 and see if the numbers still work. If so go ahead! Good luck hunting