2017 - Finally jumping in

[Justin R.]

Hello!

I have been interested in investing in real estate since I was in college and saw cheap college rental purchase opportunities.  I researched and obsessed but never actually bought.  The itch has always remained and I finally want to scratch it.  

Thinking of investing with a BRRRR strategy in northeast Pennsylvania or upstate NY since the market is crazy and expensive where I live (DC). Been researching for months and have the money to get started - leaning towards purchasing college rentals.

One thing I am struggling with is figuring out the ARV in the areas I am looking. The two cities I am looking in are stagnant markets where things take forever to sell, and there aren't many renovated comps to really compare. Since its a buy and hold, I'm not terribly concerned about short term appreciation since the cash flow is there. However, my main concern is getting the appraised ARV high enough after renovation that I can pull my cash back out so I can repeat the process. This is the one thing holding me back - hoping to learn more here to I can finally pull the trigger and get into the game instead of looking back another 10 years later wishing I had bought sooner.