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Updated about 8 years ago on .

User Stats

451
Posts
234
Votes
Tim Hall
  • Flipper/Rehabber
  • Tallahassee, FL
234
Votes |
451
Posts

Any problem doing the BRRR on a gulf front property?

Tim Hall
  • Flipper/Rehabber
  • Tallahassee, FL
Posted
So I've got a killer deal on a gulf front property. The purchase price is $115,000 There's no damage to the house but the sea wall needs about $5000 spending on it and the lot itself needs around $20,000 to fill. (Because of damage from hurricane hermone) The house is on pilings and they are fine. I'd be all in for $135,000 Do you think I'd have trouble refinancing this property through a bank as I want to do vacation rentals? I've already got the insurance quote The appraised value is around $350,000 I'm only asking because I've never done a deal on the gulf. Any help would be greatly appreciated