All Forum Posts by: Chelsea Zhou

Hi guys, I'm very new to the RE, and starting off looking at the BRRR. This townhouse property is in city, with very enticing price (110k) and needs some rehab for rental, a foreclosure by the bank. I've checked the numbers and about 1.3% under 2% rule (rare in the area), rooms looked pretty decent, only some bugs around kitchen and raw basement. Coms is >200k as neighbors. I was going to give a FHA rehab loan for it, but was told by seller's agent there was a cash offer and was off the market. However it's back to the market after 2 weeks and agent said: the buyer walked away after the inspection: mold in the basement. I want to hear your suggestion as: how bad it could be? What's the risk I'm facing in such deal? And what's the best next step if want to assess the situation? Thanks very much.