Brrrr strategy or flip?

[Aidan Fox]

I have a family friend who plans on putting their pretty nice house not too updated home on the market within the next month. I’m 20 years old been learning and investing myself in real estate knowledge for the last two years ready to do my first deal. Work full time saved up some capital and built my credit and want to purchase this house from my family friends, and they’re totally supportive of it if I can do it right. The market is tough down here but deals don’t come that often in Coburg, Oregon/ Eugene, Oregon. I’m wondering if I should get this property and rehab it and rent it out which is what I want to do because I want this property long term or should I rehab it and flip it to start off. I Guarantee this house will sell and I don’t want to miss this opportunity. And what financing strategies would you guys suggest

[Michael Noto]

@Aidan Fox If the numbers work for you to BRRRR with a 75% LTV loan then they work as a flip which is nice because it gives you multiple exit strategies.

As far as financing goes, the first two things to get a grasp of is can the house be traditionally financed in its current state and will you be using the house as your primary residence while the rehab is taking place. From there you can begin to narrow your financing options.