How to start in BRRRR

[Corey M.]

What is the best way to do OOS BRRRR when you have no experience, but can provide capital? It's all a little overwhelming - finding the right city, finding an agent who understands the investment market, finding a reliable contractor. It seems like a great way to invest, but every time I being up certain cities, people say they're already over saturated with investors.

Where are BRRRRs working for investors? And what's the best way to get started?

[Whitney Hutten]

@Corey M. I completely understand!  Investing out of state is building a business and there is quite a bit of upfront work to do... but once it is done... you are ready to go!  And there is a methodology to this to make it simpler.  

1. Make sure your why, goals, time commitment, and investment strategy are all lined up (here is a guide to help). 

2. Once you have that, then you can start diving into market analysis to find a market/submarket with strong metrics (you want to stack as many investing cards in your favor). 

3. Once you narrow that down, then it's time to start building a team to help you source, project manage and long-term manage the deal. My preference is to NOT project manage from afar for many reasons.

4. That team should help you build your deal funnel.  You may also need to add in other search engines and lead sources (guide here)

5. Now it's a matter of setting time aside consistently to analyze deals and make offers (even if they are low-ball offers).

.... PM me if you have Q's!