New investor using the BRRRR strategy in Kentucky

[Michael Webb]

This is my first post and I am a new investor with no deals completed. I have read most of the BP published books, listened to a lot of the BP podcasts and have been trying to practice analyzing deals, so I feel like it’s time to take the next step.

I live in the Portland Metro area of Oregon, so buy and hold rentals that cash flow, or have a good ROE are scarce. I am leaning towards making Louisville or Lexington Kentucky the market I invest in due to the decent rent to price ratios and the moderate to low cost of the homes.

I was fortunate enough to have purchased my primary residence in 2012, so I was able to refinance and pull out about 125k, which I intend to use for investing in real estate. Lord willing, my goal is to purchase a property with that cash and use the BRRRR strategy.

I thought it would be wise to run it by some people who have much more knowledge and experience than I, before I start the process of trying to assemble a team in Kentucky. Can anyone provide any insight as whether I am off base with my plan or the market I am leaning towards.

Thank you!

Mike