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Updated almost 3 years ago on . Most recent reply

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Mike Bloom
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How many homes can I flip?

Mike Bloom
Posted

I am thinking to buy with hard money do a rehab and then refinance, basically BRRR strategy. I want to grow my portfolio real big like 3-4 hundred units before I start investing in multifamily and retail. How many of this BRRR homes can I buy? I have like 60k saved up I was thinking I should do 3-4 deals simultaneously.

edit: I am 22 

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

If you are worried about growing to 300-400 units before you even do your first deal, you are way ahead of yourself. Why do you think it's that easy to find a good deal, get hard money, manage a flip, manage the contractor, meet expectations of the market, design correct, choose the right finishes, find great tenants, get it ready for refinance, and do it again with 60k. Where are you planning on starting where you can do 3-4 BRRRR deals with 60k? It's cool to have goals, but if you start off like this, you will crap the bed on the first deal because you will be thinking about trying to do multiple things at once without actually learning how to do it which ALWAYS means overtrusting and losing money.

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