All Forum Posts by: Brian Kittner

This would of course be ideal, but it seems to me the way to most efficiently meet my goals with the resources available to me is long-distance. Unfortunately the areas near me where I could afford to BRRRR at the moment are not the most desirable for long-term investment. At least not that I've seen.

Hey BP fam,

Are there any books / bodies of knowledge you would recommend on data-driven approaches to analyzing real estate markets?

I'm looking to find interesting markets for potential long-distance BRRRR investment. I'm new to performing market research of this kind, and want to make an informed decision on where to focus my efforts. Where would you recommend a newbie start?

Thanks!

@Reed Rickenbach so simple when you put it that way! LOL thanks Reed

@Jared Hottle this is always what I planned on doing. Truth be told I think I'm intimidated by it. The sheer amount of possible markets to choose from, and orchestrating everything from afar while holding a full time job is daunting to think about. If I'm honest with myself though it seems like the most feasible way to reach my goal. Appreciate the post!

Hey BP,

My goal is to take out about $100k a year from rental income within the next 4-5 years. As of now I have a full-time W2, and I am house-hacking a 2 family near southern Bergen County, NJ. My market is too expensive for BRRRR (with my current liquid assets), so I am thinking my main options are sub-to, seller financing, or private funding deals. How would you do it? Are there other methods I may not be considering?

Thanks!

I think it's a great time to buy. It is easier to negotiate in this market than it was just 2 months ago. With supply still low it is hard to see how prices will drop significantly in the near-term, but real estate is a "local game" so you really need to understand the trends wherever you're looking to invest. Also, many financial experts agree that real estate is the best asset to own during periods of high inflation (like we are in right now).

Nobody knows what the future will hold. Don't try to time the market, even the "pros" can't do this very well. First step for you it sounds like is to get your personal finance situation squared away. Can you buy right now with your current financial situation? Talk to a lender and find out that's absolutely free.

Don't forget why you came here in the first place and don't get discouraged!

@Paul Walker are you looking to break even while occupying one of the units? I am currently looking at 2-3 units in North Jersey and don't think that is an easy ask in that market in the current climate. I, however, will not be renting rooms in my unit and that might be something you're able to do.

Best of luck!

Hey @Eric Hrlbock, interested in checking out the Newburgh meet ups. Is there a schedule or somewhere the events are posted?

Hey @Brandon McNulty, welcome to BP! Also a newbie from Rockland we should link up! No shortage of good information and good people here so whatever you're looking for you'll find it.

Thanks for your response Frank! 

Yes I have thought about upstate, particularly near colleges. Also potentially condos in / around the city. Still saving a ton so I can buy cash and BRRRR because I'm a pretty impatient person and can't imagine leaving my cash in a property for so long. I will look into PA as well, NY is just easier at the moment since I have MLS access here. All solvable problems I just have to be persistent and get creative.