All Forum Posts by: Lauren Crissman

Thank you all, so what I'm gathering is this isn't a deal breaker and what's most important is addressing it appropriately with trained professionals (which I most certainly am not). 

Hey everyone! Just closing on my HELOC today and naturally I have diving deep into the market looking for my first BRRRR house. I came across a small home in a prime location listed for a good price that needs obvious work based on the photos alone. In viewing the details on the listing, I saw asbestos listed under the building materials. Never having done this before I know certain factors that are considered "scary" can be a plus when negotiating for a great deal but I'm not quite sure if asbestos falls into that category or if I should abort mission and send my search elsewhere?

@Brandon Parry thank you! I will read some more about hard money loans, are these typically something you can get after an offer is accepted or should you (or can you even) get pre approval for use with the offer? So many questions ha ha 

@Alex Bekeza this makes complete sense thanks so much for explaining! 

@Alex Bekeza I am still learning about the BRRRR method and using a DSCR loan for the initial funding. When you reach the refinance step of the method, do you refinance with a traditional mortgage or another DSCR loan?