All Forum Posts by: Ell Jay Lindsey

The only answers here are you need different markets or better deals.

That said, if you're executing a true, full BRRRR it's a bit unrealistic to expect to get much cash flow after the fact.

If I can get all my capital back (or real close) I'm content with operating at break even. It's essentially a free property and rents will go up over time, etc.

We're still doing plenty of strong cash flowing deals in Detroit but there's a balance. The more cash you end up leaving in it after a BRRRR the less net cash flow is left (generally speaking).

@Ell Jay Lindsey going to guess that you are referring to Class A properties?

Prices & rates have gone up so much in the last 3-5 years, that these won't cashflow ANYWHERE!

So, you can either accept negative cashflow for 3-5 years or switch to investing in Class B & C properties.

BRRRR is not a cash flow strategy.

I find all my deals off-market. I don’t go through wholesalers and very rarely do I go through an agent (though this does happen from time to time). I live in one of, if not the most, competitive market in the US and I still find deals.

I would recommend finding a niche and getting really good at that. For me, it was cold calling and relationship building. I took a long term approach and it paid off huge. In my market you can drop two deals a year and easily net half a million - so I focussed on quality and not quantity.

Cold calling is not for everyone but there are other methods. The point is, there are plenty of deals everywhere you just need to be in front of this deals (people) when they want to sell. Figure that out and you have got yourself a winning strategy.