Where should I start?

[Xzaviar Deary]

I just bought a house two weeks ago my family and I just moved in. About a week ago I ran across a bigger pockets episode on YouTube and I’m interested in the brrr process ... I don’t know where to start I just got a loan on my house and I’m not sure if I can get another loan for another property. I have no equity in my current house because I bought it with no money down and it’s a new construction. I’m lost I need help on where I should start. What’s my next move.

[Cole Raiford]

@Xzaviar Deary spend some time researching and educating yourself on the brrrr process and RE investing in general. BP recently put out a whole book on brrrr investing that would be helpful for you. Once you fully understand the basics of each step in the process, and have access to funds (yours or someone else’s) you can begin to look for properties. If you don’t have significant equity above the loan amount on the home you just purchased it won’t be a candidate for a brrrr. You need to find a house that is at about 70% of retail after all rehab is done in order to do a full brrrr. Finding a house that meets these numbers and has high enough rent to cash flow after the refinance and all expenses can be a challenge, especially in some markets, but it is doable.