Newbie Investor BRRR Strategy

[Adonias Dawit]

Hi,

I am a newbie investor in the Sacramento area who wants to use the BRRR strategy to build up my portfolio. Since I am a first time home buyer I am planning to get an FHA loan and put 3.5% down on my first Multi-Family house. I want to get a the FHA 203K loan so i can get some extra money to help me during the renovation process. Will the BRRR strategy work with a FHA 203K loan if i still follow the 70% rule? What are some of the tools you guys use to determine what the after repair value of the house will be because i feel like i am just guessing? Is there any advice or potential problems you see with my upcoming strategy. My goal is to try to save at least $24,000 for down payment & closing cost