Looking to get started in real estate investments. HELP!

[Chevy Goff]

My name is Chevy Goff with JP & Associates Realtors in Austin, TX. I've been wanting to get into some smart cash flow real estate investments. After lots of research, I've concluded that I'd like to get into using the BRRRR method, preferably with multi family homes. I know this can be done with little no money out of pocket but I'm not exactly sure how to go about it. Should I be looking for an investor? If so, how would I go about that? I'm open to any all sorts of advice. Thank you in advance.

[Adriel Hsu]

@Chevy Goff when you say "After lots of research", was all that research on BiggerPockets? I will say this from my own experience. When I first started, I thought I wanted to get into BRRRR. Why? Because that method is promoted more than any other type of investing on BiggerPockets.

It's a great, repeatable method, don't get me wrong, but you have to look at what your goals were.  Doing BRRRRs and having no money into the deals is great, but your leverage will be high to keep you risk free with no money in and therefore your cash flow will be lower.

After doing my very first deal at 24 as a BRRRR, I realized it was way too slow for my goals. After properly budgeting for CAPEX and Vacancy (which many people don't) I realized an extra $150 a month was not worth the time.

Seeing you are in Austin, your price point isn't the cheapest and your property taxes are higher than most other Texas counties.  It'll be very hard to find a low enough price point to be little money out of pocket and achieve cash flow that pencils. That being said, I do believe Austin is the best long-term (25 years+) hold in the US.

It's a sure and steady way if you buy right, but it will shorten your retirement from 65 to 45-50 depending on how fast you go.  I wanted something quicker personally.  I realized all the wealthy people make big money in an active business and dump into rental properties for safety.

I had a local mentor already doing flips and doing them in  high volume. I went all-in on flipping and wholesaling and made some good money.  I always knew large multi-family was the end goal, but didn't get into it until 2018.  

Now, I'm closing on an apartment deal next month and going to walk one today where we are best and final and if these go through, I might be ready to quit the day job by the end of this year at 28. 

All that was to say, check what your goals are and what strategy gets you where you want to go.  Find a local mentor and do what they are doing successfully.  BP is great but a local mentor is irreplaceable due to their connections and local knowledge.  I couldnt find a local BRRRR mentor, but I found a flipping/wholesaling mentor."

Best of luck.