Many buyers/investors are using this strategy to invest in real estate.- get into real estate with a lower rate and lesser percentage down payment.

Originally posted by @Chris McIntosh:@Mary Lopez I helped a California buyer purchase a 70-unit multifamily in Columbus, OH last year so it can be done. 

Moreover, wholesalers have cultivated lists of retail cash buyers who don't need the type of value-add opportunity you would to BRRR.Bottom line is that you can BRRR anywhere just like you can make money in real estate in any market. 

They called me the other day and said they had a property they had a buyer into for 270k but they would take 260k from one of my clients cause they never worked with the other guy before. 

Quote from @Chris Seveney: @Zach EdelmanBe clear BP does not recommend companies - companies pay to advertise on BP and while BP I assume vets them - it’s still buyer bewareI am not an employee of BP but I want people to understand on BP and on most sites there are sponsors and affiliates but they may not be thoroughly vetted.

That's the only way this would work for you and the seller unless a cash buyer comes along which is unlikely at $93k/door.

That basically leaves you with investors and buyers with let's say special circumstances.

When the transaction closes, the purchase is funded, and we set aside additional funds in an escrow account to pay predetermined professionals to make any required or desired repairs or upgrades to a property AFTER the buyers settle on the purchase transaction.

Double check on permits if the previous owners has done a remodel.Do not rely on agents representation.Do not work with a dual agency as a buyer, the agents first commitment is to the sellers.Allow at least a year of seasoning before determining the profits of an investment.Happy to share.

While I agree the rent by the room strategy can be great if you know how to manage it well, from a lending perspective, a lot of 30 year DSCR note buyers won't allow properties with individual room leases, so it could make refinancing more challenging.