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Updated about 5 years ago on . Most recent reply

Whitney Robert Caldwell's profile image
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Whitney Robert Caldwell
  • Rental Property Investor
  • from Washington, DC
  • Member since Aug 13, 2019
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Whitney Robert Caldwell's profile image
Whitney Robert Caldwell's profile image
Whitney Robert Caldwell
  • Rental Property Investor
  • from Washington, DC
  • Member since Aug 13, 2019
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Whitney Robert Caldwell
  • Rental Property Investor
  • Washington, DC
5
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Perfect BRRRR in Maryland for auction in 7 days. What to do next?

Whitney Robert Caldwell
  • Rental Property Investor
  • Washington, DC
Posted

So I recently came across a 3B/3B semi detached single-family home up for auction in 7 days. It looks like a great BRRRR to get my feet wet with property ownership. Opening Bid is 100K, local homes appraise around 260K. My CoC ROI evaluation seems okay, but I'm a newbie and have no instincts! I'd like to make a move but not sure what I should do first. Please advise, thanks for reading.

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Russell Brazil
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ModeratorReplied

How is it being auctioned? An auction will typically require all cash no contingencies. Also understand that the opening bid is typically set very low tp draw maximum interest. It may end up selling for significantly more. 

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