First Brrrr property breakdown. NEED some advice!!!!

[Anthony Phillips]

So I just completed my first Brrrr.

Purchased house- $235k

Rehab-15k

Appraised value- 325k

Currently rent- $1,950

Mortgage- $1,681

Cashed out $250,000

So I think I did a pretty good job for my first brrrr took a little longer then I wanted with contractor problems and delays. I will have all my initial investment back and the property is cash flowing. I just keep on getting the feeling I am leaving so much money (equity) on the table. I know this is a long term play when using the brrrr and not flipping.

Maybe some more experienced investors could give me some advice. I am currently a W-2 employee making good money. I also have my Real Estate license here in Tennessee. My goal is to try to transfer into being a full time real estate agent in 2 years and continue investing in real estate to hopefully make as much cash flow to pay my bills. This whole brrrr took me about 4-5 months to complete which I think with the proper contractors and plans in place could be cut down to maybe 3. That would only give me about 4 properties I could do in a year if I could find a deal that works. With only making the few hundred dollars and cash flow it will take me a long time to build up to the amount I needed to do real estate full time.

Any Advice from all you veterans of the Real Estate game that were in my shoes at one point??? Thanks guys

[Chris Seveney]

@Anthony Phillips

Real estate is not a get rich quick business and most never leave their full time job- especially buy and home investors. Buy and hold is build long term wealth strategy

The more you make the longer it will also take you to replace your salary. If you polled people who have a good w2 most would say it would take 5-10 years to go full time. Of course it really depends as someone making $30k a year vs someone making $150k yr are in completely different situations.

To fast track you would need to branch out and do other aspects of real estate that provide more cash like fix and flip, new development, distressed notes etc.