Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago on . Most recent reply

User Stats

24
Posts
3
Votes
Wa Chan
  • Portland, OR
3
Votes |
24
Posts

Out of state BRRRR?!!

Wa Chan
  • Portland, OR
Posted

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!



Most Popular Reply

User Stats

42,813
Posts
63,115
Votes
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,115
Votes |
42,813
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

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.

business profile image
JLH Capital Partners

Loading replies...