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Updated almost 2 years ago on . Most recent reply

User Stats

68
Posts
52
Votes
Akshay Bhaskaran
  • Investor
  • Austin, TX
52
Votes |
68
Posts

Looking to get started in BRRR

Akshay Bhaskaran
  • Investor
  • Austin, TX
Posted

Hi,

I'm a new investor looking to getting started with BRRR. I already have 2 SFH in Georgia but those were turnkey and ready to move.

I understand what BRRR is - you BUY a property, you REHAB it, you RENT it out, you go to the bank and cash-out REFI it, pay back the PML and REPEAT

BUT, I've a couple of practical questions that I'm seeking help from the BP Community:

1. Contractor problem: I have a full-time W2 job, and won't have time to spend with a contractor on rehabbing the property. Also need great help with finding a good contractor for the same. 

2. Out of state BRRRR: If it is out-of-state property, I'm not sure if I can be there until the purchase to rehab is completed

3. Tools to find deals: I'd like to have access to properties with detailed numbers. For example: purchase price $100,000, rehab cost $10,000, and ARV is $160,000 or something like this. What tool you all use to find properties with numbers like this? I've heard about https://www.investorlift.com and https://www.getprivynow.com 

4. Creative financing: Need more guidance on creative financing like sub-to, or seller financing where I can enter with no money down. 

Thanks. 

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