Seller aggressively firm making it difficult to brrrr

[Damien Papillo]

The seller owes 46,000 on his property and is looking to walk away with 100,000 cash I was trying to Brrr this property. I was getting an additional line of credit to help with closing costs the seller is firm on not coming down on his hundred thousand dollar to walk away with he is retired and saying he will find someone else. I was approved for 162k and remainder of the money was supposed to be for rehab. the house has an ARV of 204,000.

This house is practically turn key ready. Should I just purchase my first rental and start renting it out or wait until I find the right brrr deal?

[Jim K.]

@Damien Papillo

Your realtor wants his commission check now, now, NOW, before he starts sheltering-in-place. He would tell you the sky is pink if he thought it would get you closer to signing on the dotted line.

If I were you, I would put my money back in my pocket, forget about getting my start in investing and taking my shot at building a rental empire until the pandemic is under control, new cases are going down each day, drastic new actions on the local, state, and federal level stop being taken every day.