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Updated over 3 years ago on . Most recent reply

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Natarra Reardon
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Found a jewel but have not finance

Natarra Reardon
Posted

Have a off market property with a extremely motivated seller.

Home does need

- Basic clean out, HVAC repairs, maybe some paint, a few other minor things done but for the most part it's move in ready, in a very nice location, double city lot, also have an opportunity to rent out by the room for x3 what the average rent is in my area.

I'm lost to what approach to take as I've not yet been approved for financing.

I still need to get an inspection but I don't want to contact the seller until I have my ducks in a row. I also have FOMO.

Any advice would be greatly appreciated.

Most Popular Reply

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4,307
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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
3,993
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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
Replied

@Natarra Reardon Before we jump to conclusions what's purchase price and ARV once you make repairs, paint, and fix all the issues? Are you moving into the property, flipping, or renting? I would focus on the numbers first, suppress your emotions towards this opportunity, justify the investment, then talk about finding money.

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