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Updated about 4 years ago,

User Stats

139
Posts
54
Votes
Jay Yoo
  • Investor
  • Seattle, WA
54
Votes |
139
Posts

Out of State BRRRR tips for newbies

Jay Yoo
  • Investor
  • Seattle, WA
Posted

Calling out all experts!

I would like to start Out of State investing using the brrrr method. 
Does anyone know any online coaching service for OOS investing especially using brrrr method? 

I have set my specific parameters:

  • Buy a SFH all cash including rehab cost in class C+, B- neighborhoods, low pricing market.
  • 80% purchase price of listing price
  • Rehab cost including 30% more than estimates
  • ARV 30% more than listing price
  • 3 months - 3 1/2 month rehab, 
  • Place tenants before 5th month
  • A few months later, re-fi, and cash out, and repeat.

I looked up a couple of online coaching services but their beginner coaching service seems expensive, starting over $5,000. 

I'm leaning towards to Columbus OH, Pittsburgh PA, Buffalo NY, Waco Tx for Class B- or C+ neighborhoods.

I think that fully relying on brokers and contractors remotely may lead to a failure, and could run out of budget in the middle of rehab. There are many "What ifs" down the road of each process that I cannot learn from the book. 

Thank you for your time!

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