Can you buy BO foreclosures to skip the first R in BRRRR method?

[Kendra Campbell]

Wondering if purchasing an updated bank owned foreclosure is also an option for the BRRRR method, allowing you to skip the rehab step and decrease risk determining ARV?

[Chris Seveney]

@Kendra Campbell

Being someone who owns mortgage notes and takes properties back all the time, finding quality updated bank owner properties is not common at all. Most people who walk away from properties walk away because properties are trash. If they want to keep it they file BK.

When I started I loved when a borrower would call and say just take house back, now when it happens I know the house mine as well be knocked down.