All Forum Posts by: Christian Artuso

@Drew Sygit well said and I appreciate that! Fortunately, I have found investors and contractors that are active investors and do try to see it from my perspective on how to make money in the deals but I agree with the extra opinions and "trust, but verify"

@Bryce Renicker Thanks for bringing this up. Unfortunately, I don't think I'll be able to take it so I'd say it's all yours but if there's anything I can do to help, let me know!

@Mo Li I agree. There are opportunities in any market but I would need more capital to invest in and around Chicago. Part of why I am looking at possibly investing in out of state markets.

@Jimmy Lieu Thanks for the insight. Always great to hear about where investors have had successful and found difficulties to get a clearer picture. Sounds like from everyone here that a strong vetting of your contractors is an ever more important part given how much the project depends on them and the rehab costs/time. Glad to hear there are opportunities in Columbus

@Remington Lyman Have you worked with lenders that allow only 10% down and are those simply conventional loans? I have seen at least 15% as the lowest for most commercial loans that did not include FHA loans/house hacking.

@Shawn Ackerman thanks for the reply. Glad to see OOS BRRR strategy has worked for you. I am familiar with the 75% of ARV less property and rehab expenses but I appreciate that that's the formula you work with too.

My biggest concern is over managing the rehab from a distance but it sounds like you have been able to mitigate that with a relationship with a reliable contractor. I will keep that in mind when I decide its a strategy I feel ready to take on.

Thanks!

Hi BP Community,

I am sure this a strategy that some have had success with but how difficult of a strategy is it to BRRRR on out of state rentals? Additionally, would you still look for properties that need significant rehab work or more aim for properties that just need cosmetic rehabs?

I am based in Chicago but also looking at Indiana and Ohio markets since I am starting off, don't have as much capital available and those markets tend to be a bit cheaper. I also see the value of the BRRRR method in that you are able to scale at a faster pace but the idea of doing rehabs on a property that I can't visit often doesn't sound ideal. For situations like this, are there specific notes or ideas that you that you would recommend for this type of investing?

@Eudith Vacio Hi Eudith- Thanks for reaching out. I would be happy to set up a time to discuss and learn more about those markets. Let me know the best way for me to get in touch.

 Thanks Wale! I appreciate the insight and the actionable next steps. Hopefully I will have success connecting with people in Chicago and via BP.