Hello From Northern California

[Ed Morrison]

Hi Everyone:

My name is Ed. My wife and I own 3 properties, 2 SFR's (we manage our self) and the home we live in. I came across David Greene's BRRR book on Amazon a couple of weeks ago, bought and read it and I am currently reading his Long Distance Real Estate Investing.

Our previous investment strategy was to buy, hold and pay off our two rentals. Now I am trying to figure out the best way to leverage them for more rentals. Currently due to the payoff strategy we have implemented we owe less than $30k on a 2Bd 2Bth home and we owe $150k on a 3Bd 2.5Bth home. The 2Bd house has an approximate value of $290k and the 3Bd has an approximate value of $350k.

We are looking to include out of state properties in our portfolio. We have not decided where to concentrate our efforts, that said we have a few potential possibilities, Houston Tx., Kansas City Mo., Detroit Mi. and we are looking to include Florida locations as possibilities also. I am currently thinking we would refinance the 3Bd home to fund our out of state expansion and continue to pay off the 2Bd house until we see how we can make BRRR work for us.

I am not sure if it would be best to start with a SFR or MFR as our first BRRR. Our ultimate goal is increasing our networth with significant cash flow. We both have decent paying careers so cash flow is secondary for now.

If anyone one has suggestions about anything I have said above, I would appreciate hearing from you. Sorry for the long post.

Ed