Owner finance BRRRR deal ?

[Latrice Epps]

Hello I'm Latrice. A newbie to real estate. I'm interested in doing my first BRRRR deal in the next few months on a duplex. Is owner financing a good idea ? I only have about 35k. Not enough to buy and rehab.

Thanks for your comments and suggestions

[Collin Corrington]

I think $35K is more than enough to get going!  My first deal I did with $17K and more than doubled my money!

You've got to be on the lookout.  If you're trying to owner finance a $300K house that wants 20% down with $35K then no, you don't have enough.  

I don't know all the details of your circumstances but remember the refinance part of a BRRRR deal. As long as you can force more than 20-25% equity you should be fine. And don't forget, some Hard Money guys will finance the rehab if the project is good enough.