To BRRRR or go more turnkey for first OOS deal

[Craig Cecin]

Hi everyone,

I am new to REI and have been doing as much studying and research as I can before diving in. I am looking to invest out of state because I am in the military and move around making any market eventually long distance, also live in southern CA which is expensive. I am looking at markets like San Antonio or Columbus at the moment.

My questions are, should I look to really nail down my core 4 team members and go for a BRRRR deal utilizing hard money for the purchase or should I look for something more or less rent ready (and less risky) and use my own money and a conventional loan right off the bat? As a new investor a BRRRR seems like a significant undertaking but also a terrific way to get my money back and reinvest it in a more efficient manner than saving up again for a 20% down payment for a more traditional buy.

Thanks in advanced!

[Remington Lyman]

Quote from @Craig Cecin:

Hi everyone,

I am new to REI and have been doing as much studying and research as I can before diving in. I am looking to invest out of state because I am in the military and move around making any market eventually long distance, also live in southern CA which is expensive. I am looking at markets like San Antonio or Columbus at the moment.

My questions are, should I look to really nail down my core 4 team members and go for a BRRRR deal utilizing hard money for the purchase or should I look for something more or less rent ready (and less risky) and use my own money and a conventional loan right off the bat? As a new investor a BRRRR seems like a significant undertaking but also a terrific way to get my money back and reinvest it in a more efficient manner than saving up again for a 20% down payment for a more traditional buy.

Thanks in advanced!

I would go for something more turnkey and then do a BRRRR on your second deal

I have been buying rental properties in Columbus, Ohio for the past 5 years. Feel free to reach out if you have any questions.