BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 1 year ago on . Most recent reply
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How to Begin?
I am an aspiring Real estate millionaire who wants to follow BRRRR, buy and hold properties for long term. I want to build generational wealth for myself and my family. Right now I dont even have the money to invest in getting the PRO version of bigger pockets.
Can I get some advise on where I should begin, especially considering that I don't even have the money for down payment.
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@Alfred Philips the crux of what we speak about here is based on what we do with our EXTRA money. Meaning, where do we invest our extra money? So, if we don't have any extra money...we need to start there. Every financial planner/advisor would state to save 3-6 months of bills. That's #1. If you stated, "well, I don't make enough money to save"...then we would start with the career part of the equation. Let's get on a career path that would enable us to make a living. And then if you said "no good job will hire me"...then we should work jobs that give us experience in order to get those jobs. I saying this having started my journey being a dishwasher. This is first hand experience where I am coming from. So, once you get to that point where we have the 3-6 months of bills saved...then we can start to strategize on how to leverage that money best.
Hope all of that makes sense.