Updated about 1 year ago on . Most recent reply
How are you finding BRRRR Deals?
Hello BP, I have been looking for 6 weeks now as a cash buyer to do my first BRRRR deal. Over this time we have submitted 3 cash offers on homes. Over the last 2 weeks there hasn't been a property that has numbers even close to good enough to BRRRR or Flip. Is this normal to not see a single potential property in 2 weeks? We are looking mostly on the MLS for Ranch homes in need of moderate renovation in the central PA area. How do you guys find your BRRRR and Flip deals? Thank you!
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#2 All Forums Contributor
- Property Manager
- Royal Oak, MI
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#2 All Forums Contributor
- Property Manager
- Royal Oak, MI
@Jack Hamm why would you approach it this way?
Recommend: target Class B properties, maybe Classs C+ in gentrifying neighborhoods.
Run your calculations BACKWARDS to determine the purchase price for the ROI YOU WANT.
Make that offer.
Repeat as many times as necessary until an offer accepted.
Before the 2008 Crash, we used to plan on writing 100 offers, to get maybe 10 accepted, to actually close on 1 property.
It takes work to be successful!
- Drew Sygit
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- 248-209-6824
