Looking for Thoughts on BRRRR Method in this Market

[Kale Mullikin]

Hi All,

I am a relatively new investor without a lot of capital to start out with. I have been watching the markets for the past year or so looking for a property that I can use the BRRRR method on, but what I have been seeing is that the homes that require work are selling for WAY more than they should in their condition. With these prices, it's making finding a cash flowing property after refinance nearly impossible.

My question for the group is this: has anyone else noticed and/or struggled with this? If so, what do you recommend for trying to get properties? At this rate I feel like I'll only find a property once every 5 years. For reference I am in the northeast. Thanks all in advance!!