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Updated about 3 years ago,
New Investor, BRRRR Advice Wanted
Hello everyone! I am a new investor, trying to figure out how to get started in real estate investing. I recently purchased 10 rental properties (bought from and financed through my grandfather, an investor) and it awakened a strong desire in me to pursue real estate investing full time. I have $150,000 cash capital to begin investing with, and I'm wondering what the best way to get started is, given the amount of money I am starting with. I've been doing research, and am leaning towards using the BRRRR method, since it seems like I could theoretically keep investing the same money over and over again after I refinance the property. I have a construction background (a few years in trade school, as well as working for a remodeling company) and would like to do as much as the Rehabbing process as I legally can in order to save money.
Does this seem like a smart way to get started to you guys?
A few other questions I have:
Would you recommend buying distressed properties off the MLS, or from a Wholesaler, or to try to find properties marketing on my own?
Would you recommend doing this through the LLC I created to manage my 10 rentals? Or to do it in my own name?
Will I even be able to get a bank to refinance these properties to me? I’m only 19 years old!! I’ll be 20 by the time I’m in contact with them though. Or what refinancing options would you guys recommend?
Any other advice?
Thank you guys so much for your time, and any advice you can give!
- Ezra Henderson