All Forum Posts by: Bradyn Melser

 The hard thing is still keeping the house enough to code for inspections though. But, yeah.

I can honestly say, David Greene was right when he wrote in his BRRR book that a bad deal can be a good deal in a few years. I think it's best to approach BRRRing a property with the mindset that you might leave some money in the deal. And if you do, that's ok. You get to start with a completely rehabbed property with less money down.

You're not a failure if you left some money in the deal. It's all a learning process, and no one get's it perfect each time.

Second, I would suggest starting in an area or with a property that won't crush you. There are many great areas to invest where property prices and the cost to BRRR is much less. So if the appraisal comes in 10% lower on a 120k property versus a 300K property - you could still be in good shape.

Yeah, you can find properties like this is some OK areas. I say OK as a relative term. You will likely find that the S8 renters still might not pay their portion on time - and so you may have delays and issues with their portion. You also might find more damages and repairs in the turn over.

On the other side of things, I've found S8 renters don't like to move as much because it is more of a hassle for them. So it's likely that they may stay longer than other tenants in similar neighborhoods. 

Probably accurately assessing the future value of the property. If you are off, or your flip gets more expensive, your thesis for your investment could be sunk.

I've found it helpful to be more skeptical (which can be hard for me), and to build in some buffer budget in the numbers.

I will reply to my own post 5 years later since no one else has had advice. I have scaled up to 4 properties and have tried a few methods (including a BRRR from overseas).

1. It's doable! It takes a little extra care, and it really helps to have people on the ground (where you're investing).
2. Having a trusted property manager is HUGE! I would say the most important part.
3. Getting a really good inspection done with pictures helps a lot before closing. I use a company that gives me a detailed 70+ page report with loads of details. This is very helpful for nipping potential problems in the bud, or renegotiating the price.
4. Utilizing other professionals in the area - GCs, Wholesalers, RE Agents, and even investing partners.
5. Having someone you trust to sign as a power of attorney.
6. Be extra organized with your documents, progress checkins, and followup. This may be more for yourself, but it will make it smoother and give you more peace of mind despite the distance.
7. If you can - while you are in the US - think ahead of the documents you might need and ready them. It's much easier there then over seas. 
8. Don't over-think it. It really isn't much different than investing out of state. The support structure and involvement will probably look similar.

You should check out Qore admins - qorevirtual.com
Qore won't be the cheapest option out there but there are HUGE benefits that are worth the slightly higher prices than something super cheap.
- Near native speakers in English
- Work in whatever timezone you need
- You can build a team that all work together, and you can visit
- High quality equipment and internet 
- American in person management
- High degrees of education

If you have a strategy, but just need someone to do the grunt work of calling and messaging, you should look at Qore admins - www.qorevirtual.com
- not the cheapest lead generators, but you can find great quality, practically native sounding English speakers, and still get a great value on the cost!

If you have a strategy, but just need someone to do the grunt work of calling and messaging, you should look at Qore admins - www.qorevirtual.com
- not the cheapest lead generators, but you can find great quality, practically native sounding English speakers, and still get a great value on the cost!

If you have a strategy, but just need someone to do the grunt work of calling and messaging, you should look at Qore admins - www.qorevirtual.com
- not the cheapest lead generators, but you can find great quality, practically native sounding English speakers, and still get a great value on the cost!

If you have a strategy, but just need someone to do the grunt work of calling and messaging, you should look at Qore admins - www.qorevirtual.com
- not the cheapest lead generators, but you can find great quality, practically native sounding English speakers, and still get a great value on the cost!