Can you really pay more for a BRRR over a flip?
I keep hearing on the podcast that you can pay more for a BRRR property than a flipper can and I'm trying to understand this. I just closed on a foreclosure. The house is a 4/3 built in 2008 and only needs cosmetic work (10-20k), paid $224k. At most it could rent for $2100 but closer to $1800 is fair for the area. There's currently 3 houses in the neighborhood for lease (2 for $1800, 1 for $2100 similar sizes) and they've all been sitting for awhile. The ARV on this house is 340k. When I run the numbers with property taxes, repairs, cap ex etc brrring doesn't even seem like a possibility unless I leave a ton of money in it. Am I missing something?!? I appreciate any advise!