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Updated almost 6 years ago on . Most recent reply

Terry Moran's profile image
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Terry Moran
  • Rental Property Investor
  • from Westford, MA
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Terry Moran
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Terry Moran
  • Rental Property Investor
  • Westford, MA
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Rehabbing & House Flipping

Laid off, I want to buy a pre-foreclosure for a BRRRR. How?

Terry Moran
  • Rental Property Investor
  • Westford, MA
Posted

Found a house in pre-foreclosure. Wife just says she wants a divorce. What is my strategy to buy this house with only 10k liquid?

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James Wise#4 All Forums Contributor
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James Wise#4 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied
Originally posted by @Terry Moran:

Found a house in pre-foreclosure. Wife just says she wants a divorce. What is my strategy to buy this house with only 10k liquid?

Big part of BRRRR is the refinance. You're going to need some W2 income to get approved for the refinance so you'll need to get another so you can qualify for financing.

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