Quick Question about a Potential BRRRR

7 Replies

Hello,

In the description of a potential BRRRR listing it states "Site plan has been drawn up by civil Engineer and application has been made for approval". What exactly does this statement mean?

I have included some of the pictures so you can get an idea of property. 

Thanks your feedback!

Ashley

If this is your first rehab, I'd probably pass...

@Ashley Dibble - I'm not exactly sure, it sounds like a fancy way of putting that the whole thing needs to be torn down/majorly rehabbed IMO... (Like around here when stuff isn't up to code, purchasing is agreeing to completely change it and bring it up to code and those requirement/plans are already figured out and it's up to you to make it happen, so I'm guessing it's like that?)

Ultimately, I would ask the listing agent or seller or whoever. It could probably mean an array of things (or they just wanted to sound fancy and it means it's ready to be flipped!) so I would just ask instead of speculating too much! =)

Originally posted by @Audrey Ezeh :

If this is your first rehab, I'd probably pass...

 I am leaning towards that but just would like to know for future references. Also if the numbers work great I would find a partner! :) 

Originally posted by @Melissa Kirchhoff :

@Ashley Dibble - I'm not exactly sure, it sounds like a fancy way of putting that the whole thing needs to be torn down/majorly rehabbed IMO... (Like around here when stuff isn't up to code, purchasing is agreeing to completely change it and bring it up to code and those requirement/plans are already figured out and it's up to you to make it happen, so I'm guessing it's like that?)

Ultimately, I would ask the listing agent or seller or whoever. It could probably mean an array of things (or they just wanted to sound fancy and it means it's ready to be flipped!) so I would just ask instead of speculating too much! =)

 Ohhhh okay! I will do that! Thank you for the input. 

Ashley

@Ashley Dibble, to me, it means it HASN'T been approved! ie. Big RED flag!

(I wonder how many tens of thousands of similar Applications are waiting to be addressed at this time?)...

Originally posted by @Ashley Dibble:
Originally posted by @Audrey Ezeh:

If this is your first rehab, I'd probably pass...

 I am leaning towards that but just would like to know for future references. Also if the numbers work great I would find a partner! :) 

 Partner...that's wicked smart!! I took on a big rehab for my first deal...tiny little 480sqft studio, how bad can it get? Well...that's a story for another day :)

Originally posted by @Audrey Ezeh :
Originally posted by @Ashley Dibble:
Originally posted by @Audrey Ezeh:

If this is your first rehab, I'd probably pass...

 I am leaning towards that but just would like to know for future references. Also if the numbers work great I would find a partner! :) 

 Partner...that's wicked smart!! I took on a big rehab for my first deal...tiny little 480sqft studio, how bad can it get? Well...that's a story for another day :)

Absolutely! I just want to dive in and learn through doing it! 

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