If your land appraises at $400,000 and your bank will use that as collateral you can do a $1.6mm deal.  

This has now been signed by the seller for over a week. 

Seller is an investor who sells dozens of properties each year (some of them via fsbo) but ultimately give in and choose to let you list b/c they’re having trouble offloading this particular property OR want to spend their time on something else.

I’m lucky to have a fantastic mentor who’s been guiding me with advice and tips.

With this in mind, I went with Axos bank and opened a business account.

Quote from @Nathan Frost: Hey all, inspection is this Thursday. 

Unfortunately, North Jersey is probably one of the hardest BRRRR markets in the country right now because of extremely low inventory, high demand, and pushed up prices because single-family home buyers are buying the properties that we all used to buy to fix up because they are desperate.You can BRRRR, carefully, into many parts of Pennsylvania though but remember that interest rates right now make it very hard to BRRRR.

This area is an amazing place to live, and for that reason highly competitive in terms of real estate investing.

I can connect you if this is your market.

Hi Folks - Thought I'd make this a sticky in the "New Member Introductions" Forum.