BRRRR Cities in 2020

[Rudy Manna]

What are the best cities for doing BRRRR in 2020? We did in Seattle, Tacoma and Durham, NC - but now price points are somewhat higher to make it work in those areas.

What Cities are you focusing now? Especially where you can make the model work with somewhat lipstick renovation, $15/$20 per sqft - without getting into the gut-out domain.

@Pradeep Tiwari

[Michael Haas]

@Rudy Manna - we've been BRRRRing in Seattle as well, but its still working out well enough that we're not looking out of state just yet.

I'd say focus wherever you have real estate and contractor connections, family, friends, or neighborhood familiarity. I'd try to minimize risk as well when going out of state, rather than just maximizing return. It would be a shame to chase ROI into an area where you get screwed by your agent and buy in the wrong neighborhood, get screwed by your contractor on the renovation, and get screwed by your property manager on the tenant management and maintenance.

Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1." - Warren Buffet