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Updated over 4 years ago,
What strategy would you recommend for my situation?
I'm a foreign investor, meaning I have limited access to financing - 70% LTV on 30yr fixed with rates ~5-6%. I currently own two properties that were bought from foreclosures and after renovating had enough margin to BRRR and get all my equity out, but my agent in the states won't deal with these deals anymore.
In addition, the distance makes it really hard to find distressed properties with a huge potential for value add, and overseeing a renovation remote is not easy. I can get a decent volume of deals for ~10% under market value, meaning if I BRRRR I'd need 20% of the home value each time I want to purchase a new one and it won't be close to me pulling out all my equity.
Under these limitations, if the end goal is to generate substantial income, would you still recommend I do BRRRR just a bit slower, or is there another strategy I should consider to scale my portfolio?