But even if the numbers looked good going in and a black swan event happened, it would take a lot to lower the value of the house below your purchase price if you are doing value-add renovations.

One low offer where there would be no inspections, the tenant could remain for closing, and i only needed to get a walk thru and the other higher offer with full inspections and the unit made vacant for closing.

But realize that if you live somewhere seasonal, occupancy can vary... like cold winters in Texas probably equal lower occupancy.   

Borrowing from the equity must be done wisely, or you will end up with negative cash flow and be at high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

Take inventory of similar projects in close proximity.

I've also been trying to convince him to buy a rehab house using the "Labrador puppy idea" he's been dreaming about for the past year because I'll be able to create a fenced yard for his current pug-beagle dog and the new puppy.Account Closed - Thank you.

My question is, since I already closed on the house, can I still do the BRRRR method?

Finding a cash flowing property in San Diego is not easy, so this is a fairly rare opportunity, and I can self-manage it.Because I am closing soon on my new house, I don't have as much time as I'd like to meet equity investors the traditional way (meet ups, networking, etc.) and am looking for something fairly quickly.

They could be carrying credit card debt at a lower rate than other debt that they want to pay down faster.

The owner expects to close in 30 days ( standard closing windows ).