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Updated about 3 years ago,
New to REI and wanting system to get started asap using BRRR
I am new to REI, have listened to several great books and am wanting to get started asap using the BRRR method. The titles I have listened to are 1) The Book on Rental Property Real Estate 2) Investing in Real Estate with No (and Low) Money Down and 3) Buy, Rehab, Rent, Refinance, Repeat and have just started The Real Estate Rehab Investing Bible. These books have lots of great info that is both thorough and systematic. But the draw back to listening to them is not being able to take any notes to refer back to in order to start out. Are there any recommendations for real estate investing courses (or other resources - systems to buy, cliff notes, etc) that can give me a systematic, thorough REI blueprint to follow in order to intelligently begin the process of investing? I could go back and read these books (and others), take notes (or pay someone to do so), listen to podcasts etc and piecemeal together my own system but I'd rather not re-invent the REI wheel if someone has already made a thorough version. Is such a thing out there? Is the Rookie Bootcamp (that starts up this Tuesday) something that fits this description and is it comprehensive in its scope? Has anyone taken Ken McElroy's Real Estate Investing Master Course? Will that give me a thorough blueprint to follow? Are there any other recommendations? Or . . . has everyone else had to piecemeal this together by reading these and other books, taking notes, listening to podcasts and putting together what appears to a newly educated newbie to be well rounded? Lots of questions but basically the same theme
I already know that I want to get into buy and hold real estate using the BRRRR method and specifically rent to college students by the room with SFH. However, I . . . 1) have no experience 2) have only the above books listened to (with no notes to refer back to) 3) would rather spend my time getting started not re-reading, taking notes and guessing as to which foot to put forward first 4) want to have my first house purchased and rehab'd by the spring/summer in order to rent out for fall semester 2022. So, I am looking basically for a turnkey system/blueprint etc that I can follow and immediately begin 1) assembling the core 4 (and then the several other key support members of my team), 2) assessing and putting into place financing options, 3) looking for deals/finding wholesalers & real estate pros that will do so, 4) evaluating properties that fit my "BRRRR to college students" criteria, 5) making sound offers that have properly evaluated the buy/rehab cost to ARV and closing the deal, 6) negotiating and supervising the rehab process in a time efficient way, 7) ironing out the legal and insurance aspects of renting and lastly 8) marketing to college students so I have renters on contract for fall semester. Whew! That's a lot to find in one place. Did I leave anything out ???
Thanks to all that read my post and any advice or recommendations is very much appreciated.
PS For whatever it is worth, I have been successfully self-employed for 25 years as a piano tuner, technician and restoration specialist. For health and quality of life reasons I am needing to switch careers and see Buy and Hold REI as a way to secure long-term, passive (to some extent) income that has the potential of creating financial independence and, if properly executed, can turn into fully passive income that generates significant wealth. However, I work too many hours and thus time is a valuable commodity that needs to be wisely invested.