Watch for over leveraging and make sure the ARV is sound & the rental comps are there for what you are looking to get. happy to chat further! 

Hello,My friend is moving out of state and I am looking to purchase their home. They currently have a conventional mortgage at about $800 a month (3.25%). If they were to sell it on the market at a higher price and in...

As you know wholesaling is illegal and no attorney in their right mind will close these going forward.The installment contract is where you are buying the property with owner financing.

You loan payments to start will be 600/700 per month and then go up from there as you draw.So you come with 12k to close, another 3k for fees, front 10k to contractor and then pay 700/month. 

But that's because it's located close to the Denver Metro Area and it's been overlooked for years.

Those same people are now left with their tail between their legs as not only are they not getting 18% they are losing 50-100% and will take a close to a decade to recover those funds. 

there's no buying a BRRRR deal with $0 - you need cash to buy, and then you need cash every month to pay the holding costs and service the debt during the rehab.lots of things are making BRRRR tough right now, especially the increase in interest rates and the fact that prices have leveled off. if you did a BRRRR in 2020 and just waited 12 months, prices would go up, and that would help your appraisal. that is not the case anymore. other factors are making it difficult too - there is lots of competition for deals, both on and off market; lots of good contractors are booked up; and lending has tightened a little, and it's harder to get a higher LTV.so just to be clear: -BRRRR requires lots of cash - it's way more cash intensive than portrayed-BRRRR is not a cash flow strategy - you will end up with a break even property-if done right, you'll wait 3-12 months to get some (or close to call if you really crush it) of your invested cash backI know this wasn't your exact question, but I had this typed up for another thread and thought it was relevant herehope this helps

How much will my closing costs be?

Sellers can contribute up to 6% towards allowable closing costs.  2. 

So, you are tying the property up and may not close as you do not know the numbers.