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Updated over 5 years ago,
FIRST BRRRR Deal advice!
Hello! I'm hoping someone here can help me out some BRRRR basics!
So I have ZERO investing experience and I've been in the reading/learning/listening phase for the last couple and I'm ready to get started immediately, particularly with BRRRR investing.
I read David Greene's BRRRR book which helped an incredible amount on the basics and a general understanding but I still have so many questions, however I'd like to get started with step 1 then move along as I progress through my first deal so I'm not forever in the analysis paralysis phase haha
I feel I have a general understanding of how to find deals and even analyze to a degree (And IM ALWAYS OPEN TO AS MUCH INFO AS I CAN GET) but my main question is once I find a deal that I deem to be good, how do I go about the next step (making an offer?). Is there a specific type
Of contract I should use? Where do I acquire such and must I use an agent with this contract? What contingencies do all you experienced investors recommend? How to minimize risks when writing a contract and submitting an offer? How to even submit an offer!?
From my research and the BRRRR book I got a good understanding on how to find deals, how to go about the rehab process, renting and refinancing but it's very hard to find info on all the gaps and legalities that aren't normally mentioned! I'd greatly appreciate some advice, thank you!