Updated almost 7 years ago on . Most recent reply
Does BRRR Work with owner financed homes?
Ok so we were going to buy a house w a 203k but the deal fell through. We bought another house. But now I’m looking into purchasing the house as a vacation rental. When we did appraisal previously it was valued at 55k as-is with projected 104k after Reno.
Owners are offering 55k with 5% down 4% interest over 7.5 years.
House needs 20k in work.
I have fair credit but I can partner with someone on refinance with higher income/better credit.
Does this sound like a good deal?