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Updated almost 4 years ago on . Most recent reply

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26
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Saemi Jung
8
Votes |
26
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BRRR method for out of state investment for Newbie. Should I?

Saemi Jung
Posted

Hello,

So I am interested in using the BRRR method to start investing in real estate but I live in LA, CA and I just don't have the money to do so around where I live. Also, I am not sure if I should go into it new with such a big loan since multiplex can average from 1.5 to 2mil.

I want to invest out of state (Texas, New Mexico and Arizona are some of the states I'm looking into) but not sure if that's a good idea since I don't have the freedom to travel and I don't plan on quitting my day job. 

Any advise for someone like me? Is starting off using the BRRR method ok? and do I need to hire a lawyer to review contracts when purchasing? I am afraid of getting scammed.

Any advises or even your personal stories on how you started are appreciated. 

FYI: I just started looking into real estate investment and plan on using VA loans.

Thank you! 

Most Popular Reply

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66
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43
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Ryan Husser
  • Tucson, AZ
43
Votes |
66
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Ryan Husser
  • Tucson, AZ
Replied

Hi Saemi! 

You can certainly do a BRRR out of state and manage remotely. What you'll need to do is build your team wherever you decide to invest. I would recommend starting with a realtor as they will usually have good contacts for lenders, Property Managers and contractors. A good lender will be able to review your VA loan options as well.

Once you build your team, it will be much easier to analyze and make offers on deals. I've done this investing out of state and it has worked wonders and made my life easier. Hopefully this helps! 

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