I'm a new investor, I have done my due diligence and research for over a year now on real estate investing. It's time to gain some experience, and I've been looking at properties everyday and night for over 6 months. My niche is small multi-family homes (1-4 units) and I'm interested in using the BRRRR method. Now what led me to making this post is that I need help with an idea I have for a pre foreclosed condo I found. The condo is completely bare so it's a blank canvas for me to do whatever I want as far as rehabbing it and it's in a great location. I've gotten estimates from contractors and was quoted around 50k. After running numbers by using the BP tools, I could potentially raise the capital I need to invest into a bigger (quadplex) multi-family with this property if...executed correctly. I've also been able to find the owners contact information but haven't reached out yet because I was hoping to get some guidance on how to do this whole process correctly and capitalize on it as much as possible. The auction date is over a month out so I have sometime to figure out what to do. Any help/suggestions would be appreciated, thank you!
