All Forum Posts by: Greg Lott

That depends on what return you want on your money. For me personally, if it doesn't beat the stock market by a large margin, then I'm not interested. Why put money in an investment that requires effort from you when you can get a similar return in a set-it-and-forget-it investment? I usually look for 15% COC minimum. Anything below that and I move on or figure out how to make it return 15%. Your first BRRRR probably won't end with you pocketing $15k as you leave the refinance, but if you only have to put 1-2k in at the end, I'd consider that a home run from a first deal perspective. Just my 2 cents. I'm also working on my first BRRRR.

Thanks for the advice, all. I like the perspective of working backwards from what you want to figure out what you need to look for. I will be implementing this. I think this is a good starting point to improve the opportunities that show up in my email. 

Who can you recommend as a great real estate agent in the Harrisburg area? I'm looking to pursue the BRRRR strategy. Ideally, they'd be an investor themselves and have experience with flipping, BRRRRs, and buy and hold.

Same question, but for Property Managers as well.

I've got a small handful I use, but I'm looking to expand my network and team.

I'm fine-tuning my criteria to optimize my deal funnel but need help creating GOOD criteria that yields results. My strategy is the BRRRR method, focusing on SFHs. I'm looking for SFH's that make great rentals (smaller, sub 1500 sq ft), are in bad shape, and have motivated sellers. While I could just send this info off to my agents, I'm coming to you all to see what I can do to this criteria to sharpen it and get more specificity out of it. Can I give them keywords to look for to get a wider pool of motivated sellers? (divorce, inherited, quick sale) Is limiting the acceptable financing criteria to Cash and Seller Financing, or removing conventional, VA, and FHA altogether worthwhile? FYI I'm in the Harrisburg, PA and York, PA area.

What works for you?

Can you go in to more details? What's the rent? What's the condition? 34k is cheap, will it require some work? How did you finance it?

Nice work. Can you share any more images? What did signs did you miss when working with your first contractor. How would you recommend someone find their first contractor to best avoid the mistakes you made?

Wow that's a huge SOW for 23k! Nicely done! I, like the other poster, am learning about the rehab process to break in to the BRRRR strategy. Thanks for sharing.

Love getting up early to be productive. I'm a 5 am guy myself. It's quiet, I get to sip my coffee and take my time and I'm actively freeing up the rest of my day by getting stuff done first thing. Such a great feeling.

@Jordan Wharton managing is my least favorite part of the investment. I prefer the passive part to be as passive as possible. I'm in it for the wealth building. So I hire management. I would say give it a shot though and see what you think.

When to hire professionals to do the work vs doing it yourself. Tried to rehab a property while working 40 hours per week. It took 10 months to do a month's worth of work if we have a GC take care of it. The carrying costs and lost rent haunt me. We learned a lot for sure, but I was burnt out by the end.

Also, it never occurred to me that you should have some extra cash laying around after an acquisition in case any big expense comes up right away. It can take a little while to build  your nest egg and be fully self sufficient.