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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

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Roscoe Deel
Pro Member
  • Key West, FL
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BRRRR with a quit claim deed?

Roscoe Deel
Pro Member
  • Key West, FL
Posted Jun 2 2022, 09:23

Hello everyone! So I'm looking to buy a property from my cousins they inherited and want nothing to do with. It needs a lot of work. My plan: I wanted to do a quit claim deed to take possession of the property with no upfront cost so I could secure a personal loan to do the renovations. Once that is completed, I would get renters in for a couple months to show income. From there I would get a cash out refinance to payback the loan and my cousins for the property. My question is, do I need to get a real estate agent, go through a title company, or hire a real estate attorney to draw up a contract? What would the best route be? Thanks in advance for any help.

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