2) Are you pre-approved and have the down payment in your bank account?

I haven't hit it hard yet this year,  trying my hand at pre-foreclosures.I don't use a CRM, I'm hand writing letters and reaching out according to a criteria I dictated.  

The one guy I spoke with said they make money only when they sell to potential investors and they only sell new construction homes that are usually pre-leased to buyers (currently they are building in Texas state and Missouri State).

Maybe if you had a good, secure location to store things you could pre-order stuff you think you might need for your next project(s) and stockpile it.

While I would have built $150,000 in equity, the cash flow simply doesn’t work.Now, let’s compare this to the market conditions when BRRRR was highly promoted (pre-2020).Interest Rate: 4.75%Monthly Payment: $3,057/monthRent: $3,600/monthIn this scenario, I’d be making over $500/month with $23,000 left in the deal, resulting in a gross 26% cash-on-cash return—an excellent deal.As you can see, rates and prices play a critical role in the viability of the BRRRR strategy.

You can get there...just gotta get the snowball rolling down the hill whether it is real estate or other investments.

Everyone was just rolling with the punches there for a couple years. 

Throw in that you can dramatically increase the value of the property once you show consistent rent rolls much higher than when the space was used for LTR, and you have a big win. 

Instead, roll the funds into an IRA or Self-Directed IRA (SDIRA) to keep them tax-deferred and open up flexible investment options, including real estate.

I am already have a good lender that has pre-approved me with a DSCR loan so all I need is to find the right market to invest in!