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Updated over 4 years ago on . Most recent reply
Want to start REI with the BRRRR method.
Hello the BP community, I want to start BRRRR. I am looking to partner with someone, learn, or be mentored through this process. Either through person/ virtual. I want to start my REI journey. There is a lot to learn but my brain is a sponge. The first step is buying in the BRRRR method but I feel as if there is a step before this? Planning/ seeking how you will go about things such as for the buying part searching for partners/investors/loans, contractors for rehab (I would even like to help/ learn this part as well)
Renting is pretty self explanatory. Refinancing I’ve been reading on the forums and how it works. And then ofc repeat! I would like to build a long term business relationship targeting real wealth and growth! I would appreciate some feedback guide or tips! I am 20 years old and I want to leave a legacy for my children!
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#2 Land & New Construction Contributor
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- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Leonardo Hernandez:
Hello the BP community, I want to start BRRRR. I am looking to partner with someone, learn, or be mentored through this process. Either through person/ virtual. I want to start my REI journey. There is a lot to learn but my brain is a sponge. The first step is buying in the BRRRR method but I feel as if there is a step before this? Planning/ seeking how you will go about things such as for the buying part searching for partners/investors/loans, contractors for rehab (I would even like to help/ learn this part as well)
Renting is pretty self explanatory. Refinancing I’ve been reading on the forums and how it works. And then ofc repeat! I would like to build a long term business relationship targeting real wealth and growth! I would appreciate some feedback guide or tips! I am 20 years old and I want to leave a legacy for my children!
The first step is to learn your market. You want to know it inside and out. Values, inventory levels, rent comps, vacancy rates, construction costs etc. The next step is to learn all about property management and managing the mangers if you want to hold. If flipping you need to know where the demand is and what sells.