First Rental Property

[Dominique Mitchell]

Hello All, I hope everyone is staying safe.

So I was hoping to get some feedback. I am hoping to get my first BRRRR deal done. I will do a walk through tomorrow with my realtor.

Some of the numbers

Asking price-$20k

Estimated rehab-$35k

ARV- $80k-$90k

Rent-$700

So I will do a walk through tomorrow on this property. I’m going in with the mindset of no more than 18k for purchase price.

My HELOC I have will cover my purchase and rehab cost. Also all of the holding cost. I'm think I can put in a offer at 13k and get it accepted

During this process. What is it that I need to know to make my first deal go as good as it can. What should I plan for?

Thanks in advance