Best Markets to BRRRR

[Toan Dang]

Hi everyone, 

I am a new investor and am looking to complete my first BRRRR deal. I am based in SF/LA and with the sky high purchase prices here, I'm not seeing much based on my budget. Wanted to get started with getting a deal and creating some momentum, would love your help! What are some good markets in-state or out-of-state to get my first 1-3 deals?

What am I looking for? 

1. Property Type: 1-4 unit SFR
2. Purchase Price: up to $350k
3. Type of Purchase: Cash Buyer or up to 80% down payment
4. Condition: Minor to Medium Rehab (depending on the ROI and comps, could go Major)
5. Desired Cash On Cash Return: $200+ / month / unit
6. ROI %: 15%+ < X
7. Timeline: 3 months or less 
8. What are you guys seeing out there and based on my criteria, is this doable? Where should I be looking? Also, open to working with wholesalers, real estate agents, property managers, lenders and other investors. Feel free to reach out! Thanks!