Deal or no Deal & Can I BRRR with conventional loan
Good afternoon. I have my eye on and property in Texas. Details are below:
3bd 3bth 2k Sq ft
Bank Asking : 129k (it's an REO)
ARV : 155-160k
Repairs ~$10k
I'm thinking of offering $100K which would put me all in at $110k.
Its a buy and hold. Rents are $1250.
I'm using a conventional loan.
What are your thoughts.
One other question I have is whether I can use the BRRR strategy using a conventional loan for initial aquisition. Anybody have experience with this?