All Forum Posts by: DaNeale Canidy

That’s excellent insight. Small rehabs vs complete gut jobs makes more sense both from a financial standpoint and a practical standpoint as a beginner.

You also make a great point about redirecting your extra cash. I would do the same if I had a solid real estate portfolio. My only property is my primary residence which is cash flowing zero. My focus right now is diversification since all of my investments are in the stock market. My monthly 401k contributions and company match are still going into the stock market but this latest dip is motivation for me to build wealth through other investments as well. 

Thank you for your reply! From listening to the podcast I’m learning that your network can make all the difference in the success of your business. I’m definitely planning to build my network before diving into my first purchase. 

Thank you so much for your reply. That is really helpful. It's easy to get captivated by the stories of people building up their portfolios rather quickly using BRRRR but in this environment it could be a longer process if I'm leaving some money in each deal and relying on additional W-2 income to help finance the next deal. I'm actually more comfortable with a slower process as I know the learning curve will be steep to begin with.

Thank you so much for your response. I certainly plan to take time to learn as much as I can with all of the great resources. There is so much information that at times it can feel like drinking from a firehose. But I’m committed to the process and I’m most excited about using the BP calculators to analyze deals because I’m a numbers person by trade. 

Hello! I am the rookiest of rookies having just joined the community last week. I'm currently saving to invest in my first property. I work full-time so all cash flows will be reinvested to build my portfolio. I would like to purchase a multi-family property for long term rental, market still undecided as I'm learning. I am very interested in the BRRRR method but I'm wondering if that strategy will be unrealistic in the next 6 months given the cost of materials, and possibly labor, is projected to increase. Should I be rethinking my strategy? As a family of 5 we aren't interested in house hacking so I'm interested to learn how other investors are approaching this new economic landscape.