Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

7
Posts
3
Votes
Ryan Williams
3
Votes |
7
Posts

Getting into RE Investing and BRRRR

Ryan Williams
Posted
Good morning BP Family. I've recently begun my journey in RE investing and am building and doing an audit of my core four sooner than later. I found an RE agent in my desired location who was recommended to me by several trusted sources, this RE agent is also a property manager for residents across several cities within the state.

My agent also has their own contracting crew, when bringing this up at my first RE investing community gathering (just a couple of weeks ago), I was highly advised against having my agent also act as my GC (for lack of better terms) and to find a different contractor to do the work. The wiser and more experienced investors didn't necessarily mention it was a conflict of interest to have an agent, also act as a GC. Still, they were hinting more at the fact that executing a BRRRR deal (or any for that matter) way was more akin to financial ignorance and perhaps negligence on my part.

I'm hoping someone in the community could expound upon this potential risk for me and why it's a poor idea.

I appreciate any and all replies.

Thanks,
-Ryan
  • Ryan Williams
  • Most Popular Reply

    User Stats

    7,926
    Posts
    6,317
    Votes
    Andrew Postell
    #1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Lender
    • Fort Worth, TX
    6,317
    Votes |
    7,926
    Posts
    Andrew Postell
    #1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Lender
    • Fort Worth, TX
    Replied

    @Ryan Williams I personally don't have an issue with someone doing 2 things I would prefer that your contractor come from another source.  Meaning, there are other real estate investors in your market - who are they using?  That's one of the main reasons why we network with other investors - we get to learn what they are doing and who they are using.  So maybe get a 2nd source for your contractor from another investor and that will help.

    Also, keep in mind that most of the BRRRR properties that we find are from "off market" houses. Meaning, houses that realtors often cannot find. Another reason to network with other real estate investors in your area - to find out the techniques they use to find deals.

    Hope all of that makes sense.  Thanks!

  • Andrew Postell
  • Loading replies...