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Updated over 2 years ago on . Most recent reply

Joel Connelly's profile image
Joel Connelly's profile image
Joel Connelly
  • New to Real Estate
  • from Avilla, IN
  • Member since Aug 15, 2022
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Joel Connelly's profile image
Joel Connelly's profile image
Joel Connelly
  • New to Real Estate
  • from Avilla, IN
  • Member since Aug 15, 2022
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Joel Connelly
  • New to Real Estate
  • Avilla, IN
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Working out the details of my first deal

Joel Connelly
  • New to Real Estate
  • Avilla, IN
Posted

Looking at a duplex that the seller owns free and clear and will finance for a year then balloon due. Wants 90k and will take around 25k to rehab. AVR 145-155k??? Not sure how to get exact numbers on AVR. Should rent for 1400-1500 each month based on comps. I've got access to HELOC for repairs. Hopefully refinance as soon as I get renters in to pay my HELOC back and repeat. What else do I need to know before I decide to make my first deal?

Fort Wayne, Indiana
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