Out of State BRRRR tips for newbies

[Jay Yoo]

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!

[Zeke Liston]

Originally posted by @Jay Yoo:

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!

 Hi Jay, welcome to the site! I wouldn't pay much, if anything, for an online coaching program. Whether, I would pick people's brains on BP and research the different forums, podcasts, and books out there. That'll save you a lot of money and I also think you could get a better education that way. You will also learn a ton on your first deal. Columbus is great for BRRRRs.