All Forum Posts by: Jill Smith

Okay guys....I know this post is old but maybe some of you are still on BPs. I want to BRRR out of state and have been mostly looking at doing so in DFW area, or other areas of Texas. I know the market has only gotten hotter since this post 3 years ago. If I assume that I can get a deal and perfect BRRR, I am still finding it hard to just get the cash flow numbers to work in my analysis. I am open to most places in Texas. Anyone here willing to chat with me and help me get the ball moving? I own properties in CA but have not invested OOS before or done BRRR before. I do have capital and want to make sure I can re-use it thus BRRR.

EE from Cal Poly SLO, dozen years as an engineer. Now staying home with my boys and getting into REI.

I have only purchased properties via MLS in the past. I am considering buying my first wholesale investment property purchase. What kind of information about the wholesaler or property do I need to check to ensure I do not get taken advantage of? Do wholesalers have any sort of certificate/license to ensure you are buying from a trustworthy person? What questions should I ask the wholesaler about their business? I know to do my own due diligence on the property. What are the differences when buying off MLS vs wholesalers? Thank you!

We own properties that were purchased along the way per se. But we are now planning to buy our first official real estate investment property. This will be the first of hopefully many more. Our business plan is to use the BRRR method. We live in a different state than where we plan to BRRR. QUESTION- Do you recommend buying our first property mostly rental ready, or dive right into a property we can BRRR? 

I am going back and forth on this. Rental ready we can start slower from a learning curve, learn the area, and establish a team, but would be putting 20% of our own money down. With 20% left in our first property, that is about half of our total personal funds for this business. If jump into BRRR first, more risk, more to learn, more reward though I hope. We are doing this long distance (and during COVID). Thanks for the advice!