Virginia BRRRR- My journey

[Helen Lowery]

Hello BP,

A few years ago I came across the BP podcast and it has changed my life! I was a high school art teacher, but after reading Rich Dad Poor Dad catching the real estate bug, I began my journey in real estate. Now, I have two rentals in Williamsburg, VA and just this year I got my real estate license and quit teaching to be a full time agent. I love my new life and am so excited to be spending each day working on growing my business.

What I am REALLY excited about is that I am currently working on a BRRRR (buy, rehab, refinance, rent,repeat) deal. It is 3 bedroom 1 bath home that we bought for $85,000. It had tenants when we bought it, with rent at $900 a month. They recently moved out, so I am in the process of fixing it up to the same level as our other rental (on the same street) which rents for $1300 a month. When I bought it, it appraised for $114,000... and after the rehab I believe it will appraise for $125,000-135,000. I plan to pull out my initial investment of $20,000 and start looking for another property! Because it has been fixed up, I plan to rent it at $1100... $200 more than before.

Although I have been a member of Bigger Pockets for awhile, I haven't quite figured out how to participate in a meaningful way.  However, I have been listening to some of the older episodes, and Brandon and Josh keep advising to be active in the forums :)  So here I am.  If anyone has advice on how to best connect with other investors (in my area or not), I'll take it!  I am a real estate agent who would be happy to work with investors in the Va Beach/Hampton Roads/ Williamsburg area.

[William DeRosa]

@Helen Lowery Williamsburg checking in! Impressive you were able to find a house for that price... our town definitely skews toward the higher end properties which I think leaves a huge housing gap for affordable housing.