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Updated almost 6 years ago on . Most recent reply

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Bryan Hurley
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I might've struck gold?

Bryan Hurley
Posted

Im a brand new investor and have been doing a ton of research on how to do the BRRRR method. I am about ready to pull the trigger then I had something magically find its way to me.
My father has a house he wants to sell. He is looking to get between 100k to 135k for the home. Comparable houses in the area sell for about 310k.
He is willing to take the hit because it needs a LOT of repairs. Him and I both figure its going to take about 60 - 70k in repairs to renovate the home and resell it.

My question is, What steps would I take to get someone to the property to assess what would need to be replaced and the cost of it?
Him and I are both 5 hours from the property so we would need someone to do it on their own.
I also wanted to see if there are any tips on how to lower closing costs or avoid them at all since its being sold to a family member.

For this particular property I would not be looking to BRRRR, I would be looking to do a flip and sell it.

Thanks for any / all help!



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