All Forum Posts by: Drew Valenti

Yeah it's not an easy goal to achieve I agree. What do you think is a more realistic budget for this type of method? Do you have any deals you've done that you can use as an example? Thanks!

Yes I like that idea of house-hacking every year. I am highly considering renting my primary residence out after a year or two. The dilemma I face with a 5% downpayment on future projects is that the mortgage would be high, and when it comes time to rent that thing a year later, it will not cover it's own cost (which is scary to me).

 Thanks Robert — my challenge with properly BRRRRing in LA is that the real estate is too expensive for me to buy cash! I’m trying to buy for like $50k, rehab for $25k, and hopefully refi at $100k (As a rough outline). Really hard to find anything in that price range near me in Los Angeles. Also I could be wrong but the competition seems fierce. 

Thanks Renee! I appreciate your support. I have someone lined up in the ADU now :)

Do you do any out of state investing?

-Drew

Hey all, I read David Greene's BRRRR book and am really interested in implementing that strategy. I work full time in the film business in Los Angeles but my schedule is flexible. I own a very hands-off SFH rental in North Carolina. I also just bought my first primary residence (with rental ADU) in LA. That's where I'm at today. My goal is to continue using my career to finance my real estate portfolio. BRRRR seems to be the best bang-for-my-buck (if done right) since you can essentially recycle your capital over and over. I would like to do this investing outside of my state where houses cost less and laws are more landlord friendly.

So while I'm saving up cash for my first BRRRR I want to do anything to get ready for my first deal. I need to make valuable connections with professionals who can help me later. I will need that team in order to get anything done. I understand from my career experience that being useful to other people is the best way to get help for myself. It's also a good way to learn and see someone else's process up close.

So if anybody has ideas or advice for me, I am here to listen and learn and take action. If you were once in my shoes, what did you do to help PM's / investors / realtors / contractors / lenders to get on their radar? What moves did you make early on that set you up for success later?

Thanks!

-Drew in LA

I am following this thread! I'm in a similar boat -- Always trying to find out what great little markets I have not analyzed yet in this country. I mean who isn't thinking about this!?

The next big question is... How can I be useful to someone else that would tell me this information? I am very aware that for someone to tell me about their secret goldmine market, it's like shooting themselves in the foot to benefit me, a stranger. So if anybody has advice on how I can serve other people in exchange for education, please share :)

You can read my profile and get a little better idea about who I am and what I could potentially offer to YOU. Hit me up and let's talk!