Looking at pre-closure homes on Zillow

[Tim Mackinem]

I'm looking for a single family house to BRRR. I see pre-foreclosure and foreclosure homes on Zillow. Is it wise to look at this type? Is there generally room to give low ball offers? I live in S.C.

[Terry Paul]

Tim,

I put an offer on my first BRRRR today. I found this through the MLS with my agents help. I meet with a contractor to get rehab price. I am going tomorrow to meet with a banker to discuss refinancing after the rehab. I may do a HELOC on my other two rentals which I own free and clear. I'll post some pictures if I get it under contract.