BRRR In Southern California

[Pete Perez]

Hello BPers!

I am working towards my first investment opportunity. I want to break into the buy and hold world. I currently live in Southern California. I met with a couple different lenders and was pre approved for $250k. My goal is to use the BRRR method to get started in single and multi family long term holdings. I don't have a lot of capital to start, which is why hard money is an attractive method for me.

However, the lenders I met with told me it would be incredibly difficult to find a deal that would pencil given how high purchase prices are right now. They also said I would have a hard time finding realtors who would be willing to work with a newbie. They recommended I wait for the market to correct itself in the coming years and buy when purchase prices are lower. It would be really great if I could hear from any investors currently using hard money to purchase their long term holding properties and refinancing (BRRR). Or even any investors that have the 20% to put down on properties. Have you found this to be the case currently? I am looking to buy in the following areas:

San Bernardino County

• Fontana
• Redlands
• Rialto
• Colton
• Perris
• Moreno Valley
• Yucaipa

Thanks everyone!

Pete