BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 2 years ago,
Saint Louis Multifamily networking.
Hello Biggerpockets community,
Excuse me if I don't form this post correctly as I am a newbie!
Back story, 20 years old living with parents in Southern California. I plan on driving in to Saint Louis with intentions of acquiring, rehabbing and renting out Multifamily property. Pretty much BRRR strategy but I personally will do most of the work and be on the site at all times. I plan on staying anywhere between 1 to 3 months till the project is finished. I also have family in Western Illinois, so this gives me an opportunity to stay in the area and commute back and forth as needed and eventually just stay in the investment till it is finished. I have been working since middle school, have always been very frugal with my money and been independently investing in the stock market since I was 16. This has led me to build enough capital to get started in real estate, around 100k for the sake of this post. Also, my family is a blessing to me and hasn't made me pay rent ever which is a big cash saver for people my age.
The purpose of my trip is to acquire a multifamily (duplex, triplex, or quadplex) with the intention of adding lots of sweat equity and value, Interior and Exterior. I am not planning on flipping, I plan to BRRR this as my first multifamily investment. I will take any advice and help from Ya'll including proper zip codes/locations, best property management companies in the area, wholesalers and brokers that specialize in multifamily properties, and anyone willing to input advice.
Thanks in advance.
Tristan Yang