Starting BRRRR Portfolio w/ $200k Cash

[Del Crockett]

Hey all,

I have been researching a few (actually a ton of) markets to start my BRRRR portfolio after stalking BP for a while and cranking thru David Greene's book on BRRRR. Ideally, I'm targeting markets where I can get my feet wet on my first few BRRRR's in the sub $200k (purchase price) range before going bigger. I am a cash buyer and not reliant on mortgage approved properties.

Like I said, I have done the research but am curious to know from the BP community, any recommendations based on recent experience. So many articles out there on different markets but i also need to take into account areas that I can build a team (Core Four).

Thanks EVERYONE!

[Tim Jacob]

For less than a 200k purchase price you can get into some A grade listings in Baltimore.  There are tax programs to enhance appraisals in the city.  If you go to nicer parts of the county you could get the same quality tenant you could in many of the DC suburbs.  If you go to the city you could buy in nice areas brrr out your money because the spread is there and rent to young professionals by the room.  In both cases maintenance and vacancy will be really low.  All the stigmas with Baltimire are true but not everywhere is bad just go to the good parts and avoid the problems people complain about on here.  

Like others said since its not turnkey investing driving distance is key.   Its really why Baltimore is a great choice for you.  Especially at your price point.