What is too much for a beginner in the BRRRR strategy?
I am a beginner in real estate and have a good amount of cash ready to BRRRR. I am currently looking at a property in Detroit Michigan for $7k because it obviously needs repair, the seller says it should be about $25-30k in repairs and if that were the case I would still have a solid amount in reserves in case of emergency.
I have a rule that if it has foundational issues it’s not worth it. Assuming there is no foundational issues would you advise a beginner to stay away from a repair of this size, or go for it?
Any feedback would be greatly appreciated!