BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 2 years ago on . Most recent reply
35k to Spend. Need to bounce my idea off of y'all!
I have 35k saved up and am wanting to get into the Short Term Rental market. But I feel like I could get more out of my money if I was to take that 35,000 and spend on a small duplex, do the BRRRR method, get the money I put in back out of it (with the refinance) and put it towards a nice STR property in my area. Does this seem like a reasonable plan? I have nobody around me who I can speak too about these things and just wanted some feedback! Thank you!
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#1 Real Estate Deal Analysis & Advice Contributor
- Investor
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You don't have to live in a VA loan purchase? Or is your plan to live in half the duplex? I'm truly asking because I don't know the rules.
What market are you looki at? (So local experts could help you.) Having a San Francisco expert help you in Detroit, or an Ohio expert help you in New York won’t be as useful as someone in the same market.