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Updated almost 8 years ago,
BRRR - Advice needed - Newbie here
Hi Guys-
Still sharpening my pencil in this guys and wanted your opinion on a deal here,
What pitfalls such a deal might hide?
Found it on Craigslist-
SFR
originally 4/3
House has a lien on it for 2000$ for adding a bedroom making it 5/3
Given this type of lien, apart of the cost What actions the potential buyer needs to take for this property will be clear of an liens?
Should he re-construct it back to its original plans?
Seller toke on a short-sell and flipping it (Is there something i should verify given this condition?)
Ask price is 95K,
Cost of rehab are within 30K-40K
Comps on Realquest & Zillow for this size is 170K-180K
Father is a contractor so costs of rehab should be on my side-
Considering as a BRRR property, good neighborhood, Rent is is 1500 Range.
I put more emphasis on learning through the process rather than grabing a deal,
Property address-
6802 N Glen Ave, Tampa
Share wisdom,
Thanks