BRRRR Location Advice

[Kim Ehardt]

Hi all,

I'm making the shift from passive to active real estate investor, and preparing for my first BRRRR property (how exciting!). I have $250k cash to begin this journey. I live in Austin, where that amount of money won't typically cover purchase and rehab costs. It's often mentioned that there are stable markets with lower entry price - Columbus, Prescott, most anywhere in the Midwest. As with most investors, I'm expecting it to cash flow while also offering promise of appreciation.

Here is my question:

When you have an entire nation available, where do you begin?  How do you conduct that research?  What criteria do you look for, and where do you obtain that data?

Appreciate your comments and insight.  Feel free to message me directly if you’d like to talk further.

Kim

[Joe Scaparra]

Hi @Kim Ehardt!  @Andrew Postell is spot on!!! Why ago out of this Great State, TEXAS????  You have great markets yet to explore.  Ft Worth has great deals!  So does Bryan/College Station!  Even in the Austin MSA a deal will pop every now and then.  I just helped an investor find a duplex in Elgin, TX., sold for 240k and cash flows $2600 a month and absolutely no repairs required. 

Now don't get me wrong the deals in the Austin area are not falling like apples from a tree!  But look everyday long and hard and you can still find deals.

People are flocking to Texas to INVEST.  What a HUGE advantage you have living here and having a network setup.  Lastly, by investing in Texas you won't have a need to file a state income tax return, but should you invest in a state that has state income taxes you would.  

Texas has what you need, you just have to spend some time looking and you have to be ready to pull the trigger!!!!! Cheers.