New investor creating my strategy. Looking for feedback

[Ryan Veil]

New investor. My primary goal is to generate monthly cashflow. I have about $40k available now and will continue to have $40k additional each year available. My wife & I prefer to invest locally and our market is expensive. Am I correct in saying that seeking BRRRR deals is my best option with the end goal of creating the most cashflow possible? Admittedly, going through significant rehabs isnt super appealing to me but I can't seem to find a way to make more than $100-$200 a month per property while sinking $40k in equity as a downpayment. The BRRRR may still leave some money in the property but pulls most our allowing additional investments to rake place.

Would love to hear affirmation that I’m thinking about this correctly or other strategies I’m missing. I’ve been hitting the books and podcasts hard and am eager to jump in. I appreciate any feedback.