BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 20 days ago, 11/02/2024
Seeking Guidance on Starting an Out-of-State BRRRR Investment
Hello! I'm new to Bigger Pockets and have been immersing myself in the podcast and studying various aspects of real estate investing—from market analysis to financing—for the past two months. I'm planning to actively pursue my first investment property in January and am interested in a BRRRR strategy. Since I live in Florida, where many properties are currently out of my price range, I'll be investing out of state.
I have a few questions and would appreciate some guidance:
1. I plan to rehab the property but don’t yet have any contacts for getting quotes. Where can I find a reliable general contractor?
2. Should I check back here once I finalize the market/area I’m looking to invest in?
3. I’ll also need a property manager. When would you recommend starting the search for one? Should I wait until I’ve purchased the property, or start once I’ve decided on the target market and city?
Overall, I’d love advice on the ideal timeline for finding team members—like a general contractor and property manager—for an out-of-state investment.
Thank you!