First BRRRR Investment Property

[Asa Ifill]

Hello everyone! I'm pursuing my goals of being financially free by using the BRRRR method. I'm a new/young investor from Huntsville, AL that would like to get into REI. All criticism needed, I want to soak up as much info as I can! Please respond!

I have been researching the best loans to get for my first investment opportunity and my first thought is to use a Fannie Mae HomeStyle Renovation Loan to cover the cost of the property and the rehabbing.

I’m looking to spend no more than $70k on a property and $30k for the rehab, so ultimately, I’ll be getting a Fannie Mae Loan at 3% since I am a first time home buyer.

I’ve chosen the Fannie Mae Loan simply because they will give you a loan on your property PLUS the rehab costs with as little to 3% down. Also, you can find your own licensed contractors to help with the budget.

All criticism welcomed!