All Forum Posts by: Joseph Bui

I've been doing BRRRR deals in Detroit, Memphis and Cleveland for a few years now. Some deals get all funds back, some most. Just depends on the mood of the appraiser. Still plenty of good deals to be found, just need the right people in place to help source and rehab. Happy to connect and chat more if you or anyone is interested.

Cash flow can more easily be found in midwest markets like Detroit, Cleveland and Memphis. Those are the markets I invest in and I'm seeing roughly 10-20% cash on cash on the deals I do. Happy to connect and help however I can if you are interested in those markets.

I think a heloc is a solid method to fund a flip. I've done it myself. However the key is making sure the numbers pencil out so that, at minimum, even in the worst case, you can pay back that heloc because interest on that is going to be very high. That being said, sure beats using hard money and taking on all those insane closing costs. Where are you planning to do a flip?

I'm investing in Memphis and Detroit and also dabbling in Cleveland. Happy to connect and share contacts with the teams I use in this market if you are interested.

I'm a Detroit investor (as well as Memphis and Seattle) and so far so good. It hasn't been perfect but overall I'm happy with my currently 8 door portfolio there. I have 2 flips in progress and 6 long term. There are different approaches  you can take here and happy to discuss strategy if you are interested.

I'm based in the Seattle area and have a portfolio of 10 properties across Detroit and Memphis. Obviously, if you live in an area it makes sense to have a portfolio of long term rentals, you should. For me, Seattle is too pricey for me and, at least for now, the returns don't make sense. For me, its all about the numbers. If the numbers make sense, which usually equates to 10% or better cash on cash and roughly 1% rent to price ratio in an area that has appreciated well recently, I don't care how far I'm away from that market, I try to buy there. Happy to connect and talk through scenarios if you are interested.

I know people that have had great BRRRR success in Detroit and Memphis, including myself. I've seen investors get over 100% of their money back at times. For me, I usually get about 90% of my money back. The key is finding the right area/market and having a solid rehab plan that doesn't go too far over budget. I don't have any experience in Augusta, but if you are interested in Detroit or Memphis, happy to connect and knowledge share.

For me, real estate is never truly passive, even with good a Property Managers. With a solid PM, its about 85% passive. As for what I look for, I try to find a market that has appreciated well recently and has solid rent to price ratio. For me, those markets are Memphis and Detroit (and a couple others). Then I find or put together a team to help me invest remotely (sourcing, rehab and property manager). My target ROI from cash flow is 10% or higher (after factoring in maintenance, capex, vacancy) and I usually aim for a rent to price ratio of 1% or better. I hold a 10 property portfolio now and would be happy to connect and knowledge share.

I've worked with many investors that take this approach. My biggest rule it to pay off the heloc as soon as possible because the rate is variable and its much safer to be in a locked in mortgage.

Hi Marembo, glad to see you join the community. I have a 10 property portfolio across Memphis and Detroit. I've been using the BRRRR method more recently with some success. Happy to connect and knowledge share if you are interested.