Advice on financing our first investment property
Hello all. We are ready to make an offer on our first property. Our confusion is with finance options. HM vs conventional. It's a single parcel with two single family homes. A 3/1.5 and a 2/1. Viewed them today. The 3/1.5 is move in ready. The 2/1 needs a reno. Ask is only $45k(not a typo:) ) Just got preapproved with Chase but they want $5900 is closing costs and fees. Is this normal? Seem ridiculous on 45k
Thanks, Todd
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
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Use a realtor, have them comp it for you and deduce yourself that it's a good deal. If it's worth 100k 45k is probably not a good deal
Thanks for help
BiggerPockets
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