No success with BRRRRing

[Katrina B.]

DALLAS BIGGER POCKETERS - 

New investor here 👋🏽...I'd like to hear experiences from those that have built their portfolios the traditional way - finding a good deal, putting the required 15-20% down and renting it. I've had no success in finding good BRRRRdeals or flips as most experienced investors have gotten first dibs. Although it will take a longer time to build my portfolio this way, I'm fine with going this route for my first few properties.  Dallas market is tough! 

I read a post yesterday where a lady indicated that was her process because of the competition in her city. People on the post frowned upon it because “it would take years” to recoup her down payment. I understand the trend now is BRRRRs and not paying your own money but that may be the only way to get some skin in the game.

Please share your experiences of going this way. How long did it take to build your portfolio and how long did it take to gain profit?

[Julie Sisnroy]

I will jump in here as a 14 year part-time, buy and hold, slow and steady investor with a full-time job and a family.  I am by no means an EXPERT In real estate, but I have made some observations over the years. There are 10 different ways to invest in real estate and 100 pros/cons for each and 1,000 opinions on all of it.  At the end of the day it is a balance between low risk/high risk and time/money.  The only true  "bad" investment is one where you lose value, whether that is time or money is up to you.  

I have learned with most investments/projects (or just life in general) you either have time or money, rarely both for most of us. So are you willing to trade time for money? BRRRR/flips/rehabs. Is your time more valuable? Turn-key. Each one of these can be good/bad and what is MOST important is having the right team in place. And the end of the day, YOU decide what numbers work for you. If you are interested in more of the transactional type deal and market at hand (day trader), appreciation may not be a factor. But if you are interested in a long-term strategic approach, A/B nice area, cash flow may not be the best, but you will have appreciation. Can be hard, but not impossible, to find both.

Some people say leasing a car is a waste of money, some saying going out to eat vs. cooking is a waste of money, and some say turnkey is a waste of money, but if it aligns with YOUR lifestyle/family/career/finances/risk-aversion, don't worry about the naysayers. There are a TON of A-type personalities here-it comes with an entrepreneurial mindset, so you won't find a lack of opinions. You just have to sit down and look at your goals and how much participation you want in the REI world. Overall, it is a good place to be.