Let us use this time to acquire knowledge and get connections with other members about REI.Keep safe!

Usually, you have to come up with 30% down to acquire the property, and then you have to foot the bill entirely for the renovation costs.

That sounds reasonable to me, but be sure to have that written out in your budget for this property, as well as your timetable for when you are able to acquire your next property.

Traditionally my only exposure with real-estate is taking equity positions in large multi-family properties.But, I think it might be worth learning to acquire properties on my own.

Some of the wealthiest people in the world have used real estate cash flow to acquire their fortunes.

What should I do to continue to scale and acquire more doors? 

Good morning/afternoon/evening all,I am looking to use the BRRRR strategy on my first property but I don’t know how I will purchase it, what are the best ways a rookie investor can acquire the funds to purchase his first property?

BRRRR is about you and your ability to do the following.Raise / acquire fundsMarket to distressed sellersEstimate rehab costsEstimate the ARV of properties in your target marketManage contractorsHit timelines & manage large projects / employeesIf you can master all of the above the market is going to be irrelevant.

@Greg Scott I agree that the loss to lease should be higher at acquisition or the numbers probably don’t make sense to acquire the property.

I would be using a hard money lender (80% LTV, 10%, 1yr loan term) to acquire and then begin renovations and raising rents to market. and then do a VA cashout refinance or FHA and move into one of the units. so my risk is if the property will not hold its value or go down and I cant refinance and/or if my new tennat base will be able to afford the new rents ($950).My gut is telling me to stay liquid and see how this plays out but there's this FOMO (fear of missing out) side that thinks this will blow over and I won't have a deal.