All Forum Posts by: Thomas Farrell

Quote from @River Sava:

Hey Thomas,

BRRRR is still a strong strategy, especially with solid capital. If scaling quickly is your goal, DSCR loans are a great tool for the refi portion since there's no 12 month seasoning requirement like conventional loans, and DTI isn't a factor.

I suggest focusing on building your "Core 4" team—agent, lender (one who can finance both the purchase/rehab and refinance is ideal), contractor, and property manager. Happy to connect if you want to dive deeper!

 River, I would love to dive deeper if you ever have the chance. Is this strategy something I could deploy in a high entry area like New York/Long Island?

Quote from @Pat Lulewicz:

Private lending could be an option if your goal is "cash flow". You obviously don't get the tax benefits of real estate, but if you're just looking for "returns", then lending your money out could be advantageous for your goal.

 I never thought from this perspective. That is something that could make sense in the short term while rates are still high. Thank you for your input.

Quote from @Sofia Komrskova:

Do you absolutely have to live in New York? If you are serious about scaling up a cash flowing portfolio you honestly need to move to a state that has that kind of inventory. Think somewhere in the Midwest or certain markets in the south. If you can't leave NY, I really wouldn't try to do a BRRR from that far away unless you have someone you trust who is local. Look into Connecticut, Rhode Island or smaller markets upstate.

Unfortunately, for the time being, I do need to stay in New York. I have family obligations. I am open to investing basically anywhere, as long as I could make it work. I will be looking into all markets... I am unable to make a concrete decision until April-May anyway. I appreciate the advice!

@Nicholas L. Thank you for your response! I'll look into some markets that are closer..

Do you have any suggestions that may suit my criteria a little more? Maybe something like a buy, rehab, rent, and hold strategy?

Hello all,

I am new real estate investor that has yet to purchase his first property. Due to a very high entry level in my home state (Long Island, New York), I have turned to look at out of state markets, particularly Augusta, Georgia.

I understand the BRRRR method is not all that it used to be in the past years, but given that I have a lot of capital to play with, I figured that I would still be able to find ways to make it applicable.

Does anybody have any suggestions/tips for me? Am I wrong to assume this? Are there better strategies for the capital I will have?

Currently, my number one goal is to scale rapidly. Secondly, a would like to produce a good stream of cash flow to help me scale (as I'm assuming most are looking for).

Thank you all in advance!

Hello All!

I am planning to get into the TN real estate market as my first investment and am looking for some information.

In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.

My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market. These will be LTRs and I will most definitely be playing the long game with these.

In addition, as rates go down in the future (hopefully) I plan to refinance as most of us do. With this, I would like to implement the BRRR strategy but am having trouble estimating rehab costs.

If anybody could help, or connect me with someone that could, I would greatly appreciate it.

Thank you all and happy hunting.

@Mackay Oakey Definitely LTRs. I'm planning on buying a small multifamily first and foremost so I have a place to live and then will either buy a single family or another multi family depending on what I can find/fits my criteria at the time.

Quote from @Mackay Oakey:

Welcome to the group Thomas! What are you investing in or considering investing in during 2025?

Have you considered going to BPCON in October this year? (las Vegas). Definitely the best place to meet like-minded investors!

Possibly! I am considering in investing in Single-Family/Multi-Family mid-term and long-term rentals. I have been thinking about investing out of state, but am still unsure. I will be taking a few months to really dial in what market I want to invest in as well as how I am going to go about it.

Hello All!!

Starting my investing journey in the next few months but have been a BiggerPockets listener for years now. I'm excited to be here and can't wait to bounce ideas off some like-minded individuals!