Househack has to be the MOST POPULAR word for beginners NOT BRRR.

[Joaquin Camarasa]

I met many new investors wanting to do a BRRR. The thing to know is that a BRRR is really hard to accomplish, even seasoned investors have a hard time to find good BRRR deals.

The truth is that for BRRR you need to have solid relationships with contractors, realtors and lenders all at the same time. When you are starting out you need to consolidate those relationships, and by relationships, I mean that you have full trust in them, just that, will take months if not years. You also need to have deep market knowledge. On top of that, you need to be confident with the process to complete it all without carrying a huge amount of pressure and stress on you.

On the other side, you have the househacking concept a lot simpler just need to make the numbers for the tenants to cover your mortgage. You will acquire knowledge on screening tenants, renovation repair estimates and maintenance costs.

I am a fan of pushing yourself out of your comfort zone but in a controlled way.

Build your risk tolerance and knowledge with time, step by step, less is more. Down the line you’ll feel more confident and ready to push your risk tolerance.

Just remember the great things in life take time.