Out of state BRRRR?!!

[Wa Chan]

Hello all,

Currently, my fiance and I are currently house hacking our first property. We added a room, along with a few other renovations, and now have 3 roommates (4 bd, 2 ba). Not ideal but worth the grind 100%! Living in a pricey market in Portland, OR, I've started looking in to investment OOS for our next move (reading David Greene's book currently of course). Originally, our goal was to BRRRR but this is extremely difficult, if not impossible, in the Portland area, especially when we're competing with cash offers for these "fixers."

My question is whether a hybrid OOS BRRRR is feasible? Hard money seems a little risky considering I can't physically be there to make sure contractors are timely... Other option is to finance the property and pay cash for repairs and/or open lines of credit. 

I'd highly appreciate any thoughts or experiences! Cheers!

[Jay Hinrichs]

if your going out of state price points are low enough that BRRR does not save you that much.

and given the extra expenses of BRRR IE two closings interest which is usually higher on the fixer HML or not

RISK which is huge.. in my mind just put the 20% down.. a lot of times on BRRRR you dont really come out that far ahead or far enough to take on what is a very risky process.. so thats one view point.