I want to buy my first BRRR property and shoot a movie in it!

[Alejandro Guimoye]

Hello,

I've been looking for a 2 story, 4-5 bedroom victorian home (built before 1920s)  to serve two purposes. One as my first investment property, but also to film my upcoming feature film, which 90% would take place inside this home (I own a video production company and do this for a living). 

I live in California and homes like the one I need are $300K in rural areas. Finding a property in California would be the easiest thing for me since most of my resources to film the movie are here (gear, crew, etc). However I've noticed I can get a bigger property for 1/3 the price that has more of that victorian/QueenAnne charm that I'm looking for in states like Georgia, Pennsylvania, Texas, Louisiana, etc. 

I found what seems like the perfect property to film the movie and the for the BRRR strategy in Dawson, GA, but needs TONS of work (I haven't done an inspection or gotten contractor quotes on work needed yet), but I'm just a little hesitant since I'm in California and this would be my first venture. I guess I'm just afraid to jump in the pool and find out half ways its empty. I know I have to do my research and do diligence on the property to make sure the numbers work, but any advice would be much appreciated.

My plan would be to buy the property with an FHA loan 3.5% down and live in it as I rehab it and prep it for the movie. Then after the movie has been filmed I plan on renting it after the year.

Here is the property in case anyone has the time or interest to check it out:

486 Stonewall St NE, Dawson, GA 31742

Thank you Universe!

Alejandro