Any problem doing the BRRR on a gulf front property?
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