Starting with a blank slate

[Scott Kelly]

I want to quickly start out with just a fast background, discovered Poor Dad, Rich Dad end of 2019, immediately hooked and mind set changed + blown of the opportunities in REI. Dived super deep into the research of how, why, when on REI through listening to podcasts, reading blogs, and now discovery this amazing community which I am super grateful to be apart of and hope to give as much back as possibly can be give in return.

With that said, 2020 is here and it's the first month of the year and my wife and I are super excited and pumped to jump all in but with a cautious mindset and approach along the way. So with the cautious side of things I wanted to reach out to the community with a simple question but specifically to the Buy portion of the BRRRR.

When you have all your ducks in line, team set, finances ready to go, assets protected (LLCs structured) and your ready to drop the cash on your first door with the goal of BRRRRing your way to cash flow city — what is the safest, smartest, more strategic way to pull off this very first purchase/buy?

I ask this because I have heard, pay cash, or "loan" your business the money avoiding seasoning and have your money then refinanced, buy via a land trust, etc. Since this will be the very first purchase and the crux to the start of our BRRRR venture we want to make sure we start it on the right foot.

Really appreciate not only all of everyone’s time reading this but any participation that comes of it.

Cheers!

[Joe Villeneuve]

My advice is to start with a different strategy. The BRRRR method will dead end you quickly.

In any case, do you know how much you have to work with in cash?

Do you know what market you will be investing in?  (Please don't say "my own market, because I know it well")

What strategies, other than BRRRR, do you know?