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Updated over 6 years ago on . Most recent reply

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I’m new. I want to BRRRR. I have $20,000

Posted
I’m 23 and married with a 40 hour job that I would love to leave some day, I have $20,000 saved up with no investing experience. I’ve learned recently what the BRRRR method is and am interested but I’m not sure if it’s where I should start. I live in the Boise area and have heard good and scary things about our market... if you were me and where I’m at, what would you do and what would be your first few steps? Thank you.

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Kevin Sobilo#1 Tenant Screening Contributor
  • Rental Property Investor
  • Hanover Twp, PA
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Kevin Sobilo#1 Tenant Screening Contributor
  • Rental Property Investor
  • Hanover Twp, PA
Replied

@Anthony J. Colwell, I do BRRRR myself.

-  How do your envision yourself fitting into the process? Where will you add value and where will you hire people with skills you don't have?

- How do you plan to fund your 1st deal? $20k is a good start, but that probably isn't enough to purchase and rehab in cash.

- How do you intend to find your first deal? Are you working with an agent?

- Do you have anyone to help you develop the scope of work for the rehab? I personally think this is one part of the process people overlook.

- Do you have anyone to mentor you as a landlord?

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