I want to build a portfolio through BRRRR. How to start?

[Patrick Philip]

Let's say I have $20,000 in the bank. This will be my down payment for my first property. These figures might not be exact, but I'm just trying to get the process down. Does my strategy sound like I know what I'm talking about? Feel free to tell me if I don't.

Buy - I should start with a low-income SFH that is a fixer upper. I should get it through a wholesaler.

Rehab - self-explanatory

Rent - self-explanatory. My only question is do you have advice on how to find a GOOD property management company? I am a member of 2 local REI clubs. Should I look there?

Refinance - After rehabbing the place, the ARV would have gone up to the point where 75-80% would cover the original loan, giving me all of my money back to put into another property. How long does it take to go from Buy to Refinance? Will I be waiting years, or can I do it right away?

Repeat - do it again, but try to buy more expensive properties each time. Eventually, I can use 1031 to get into MFU.

Can anyone give examples of when they have done this?