Best market to move to for the BRRRR strategy

[Brennen McConnell]

I will be moving back to the US from overseas next year. I have a "location-independent" job, so I can work from any location in the US. So I want to move to a city where I can find the best deals to employ the "Buy, rehab, rent, refinance, repeat" (BRRRR) strategy. I'd be curious to hear from others if they could move anywhere in the US to find BRRRR deals, where would it be?

[Melissa Kirchhoff]

@Brennen McConnell - A few things, one, the house hack thing is good but even around us (and we have pretty low purchase prices) the 50-100k will get you a nice SFH but duplex is stretching it (both sides anyway). And, with 5% down (which there's plenty of even 3.5% conventional loans now a days) you might be limited and have to stick more to a duplex. I'm not positive, but I think most lenders won't be comfortable lending on bigger units with low money down. It's something you should definitely ask.

@Chace Fraser

@Chace Fraser - His point around major attractions is another good point, especially probably something more "niche". Like again, around here, we have a few big state parks that are popular if you were going airbnb type route. Lots of Chicago people come down since it's that perfect, hour and a half drive getaway. If you think slightly more outside the box, I think you could definitely find a good fit. But like Chace said, it's going to take some research on your part. Find some places that fit the bill then visit them and see what you like. Looking at things online and looking at their markets in person is two different things, I don't care what anyone says!

Good luck!