All Forum Posts by: Daniel Brewer

 will do, thanks Andrew

Hi all,

In the process of building a better pipeline for finding more BRRRR deals. Just want to see what more experienced members are doing. Looking at 3-4 unit multifamily properties. Plan is to build a solid pipeline during this era of market volatility. Here's what I have experimented with:

1. Using Reonomy to generate an excel sheet of all 3-4 unit owners and hire a cold caller to inquire about their properties - With current market conditions I have found it is extremely hard to find people to sell. Plus, I want distressed properties. We were cold calling all of these properties and a lot of them were turnkey. Want to shift focus to only distressed properties

Here's what I'm thinking I will implement:

1. Reonomy has a feature to see multifamilies that are in the foreclosure process. There have not been many recently but I'm starting to see an increase. Going to monitor these and cold call the owners for these to see what we can make happen

2. Getting on wholesaler lists that will email me properties. Just need to find good wholesalers. Pretty unfamiliar with this or how to find them so if anyone has any recommendations it would be much appreciated

3. Looking at auction websites. Also would like some information on this if anyone has experience. I've been on a few but am unsure if they are worth my time

4. Going on county websites and looking at tax liens. Not sure how much I like this. Seems like it's challenging to scale up doing this.

The goal is to eventually automate this entire pipeline either through the use of employees/software.

As you can tell, my head is pretty all over the place with this so just looking for suggestions or examples of what others are doing to find distressed BRRRR-able properties.

Hi all,

In the process of building a better pipeline for finding more BRRRR deals. Just want to see what more experienced members are doing. Looking at 3-4 unit multifamily properties. Plan is to build a solid pipeline during this era of market volatility. Here's what I have experimented with:

1. Using Reonomy to generate an excel sheet of all 3-4 unit owners and hire a cold caller to inquire about their properties - With current market conditions I have found it is extremely hard to find people to sell. Plus, I want distressed properties. We were cold calling all of these properties and a lot of them were turnkey. Want to shift focus to only distressed properties

Here's what I'm thinking I will implement:

1. Reonomy has a feature to see multifamilies that are in the foreclosure process. There have not been many recently but I'm starting to see an increase. Going to monitor these and cold call the owners for these to see what we can make happen

2. Getting on wholesaler lists that will email me properties. Just need to find good wholesalers. Pretty unfamiliar with this or how to find them so if anyone has any recommendations it would be much appreciated

3. Looking at auction websites. Also would like some information on this if anyone has experience. I've been on a few but am unsure if they are worth my time

4. Going on county websites and looking at tax liens. Not sure how much I like this. Seems like it's challenging to scale up doing this.

The goal is to eventually automate this entire pipeline either through the use of employees/software.

As you can tell, my head is pretty all over the place with this so just looking for suggestions or examples of what others are doing to find distressed BRRRR-able properties.

 Thank you Anthony, much appreciated! I will definitely check this out

Anyone have any tips on where/how to network better? It's extremely challenging finding like-minded people that would provide value that are my age and in my social circle. I've looked into joining associations like the NAIOP but they have requirements that I just do not have yet (age being one of them).

My coach and I have been discussing this and it's one of the things that has been holding me back so I'm open to any and all suggestions! 

You'll hear a lot of stories about people doing well on their first investment property. I am not one of them but I love sharing!

My partners and I bought a destroyed home in probably one of the hardest parts of the country to invest in. Thankfully we paid for everything in cash. But we dealt with it all. Shady contractors, incorrect quotes, people constantly trying to get more money out of us. It was awful. Fortunately, the prices of the homes in the area went up drastically so our refinance was not all that bad.

What I would recommend is that before you begin anything, create a document that outlines every single thing you are going to do from start to finish. How you are going to do it, some tips from your research (such as how to pay contractors and what material to use in the bathrooms), etc. It's really easy to do all that research and then once you're caught up in the investment you get ahead of yourself and it all goes out the window. It's like practicing free throw shots and making 10/10 but not being able to make any in the big game. 

Again, spend days (or weeks) writing a very specific set plan on a word document and stick to it!

I'm currently in a partnership on a property. I'd say the most important thing is communication. Before you go into the partnership, outline the entire process from start to finish in a document. Literally, everything from the first day until you finish. You want to have a set plan for how you are going to do everything down to every last detail.

After that document is created, discuss with your partner the roles each of you are going to have. Who is going to manage the rehab? Who is going to talk to the realtors? Who is going to identify the target areas? Have the entire process written out and jobs assigned to both you and your partner. This will make sure all expectations are aligned and if someone isn't holding up their end of the bargain it'll show.

And then obviously you'll want to find a great accountant (to help you structure the business) and then a great RE lawyer to write the operating agreement. These are also extremely important steps. 

 Make sure everything is as clear as possible!

 request sent!

 just sent a request!

There's actually a guy from Cincinnati that I've been following for a while. His name is Nate Barger. He has an academy that you can sign up for and from what I've heard it's pretty good. He's big on the BRRRR method.