BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 4 years ago,
How to buy in a expensive market
My wife and I are planning to buy a house in our market which is really expensive. We're trying to figure how can we afford it. Her dad owns 2 houses here in this town. One is half paid off and the second one still has a ways to go but his tenants pay the mortgage. First one is worth around 900 thousand and second one he got a appraisal and it came out to be 1.2 million. Houses in our market go for 600k and up. We're in the process getting pre approve cause we been seeing some good ones pop up lately and want to be ready to pull the trigger and having a chance on buying one. Our plan is to do the BRRRR. We're trying to figure out how we could make it work with his 2 houses. A deal we could do with him. Any ideas? Advice?