Possible first deal?
Hi BP community. I was looking at a property that is going for 200K. My agent looked into it and told me that it needed a lot of major work. (roof, septic) Rehab will be around 100K. He told me I wasn't able to get a conventional loan, but might be able to go through another lender. I would need to come up with 60-70K down. Not sure if this is something I need to tackle as a new investor, or should I keep looking? The comps in the area have sold between 380K - 420K.