If you start going into electrical, plumbing, cutting in for new doors, roofing, HVAC, etc. then you would potentially need to pull permits.

I am currently reading BP books to learn everything that I can to become successful and look forward to all of the networking potential on this site.

My opinionBRRRR can be risky if it is your first deal.I think a house-hack would likely be the better / safer approach.With $40,000, you can potentially buy a $500,000 house assuming you put $25,000 towards the 5% down payment, $5,000 is used towards closing costs and $10,000 as a reserve just incase something needs to be fixed up.

While SB 366 was defeated, HB 721 is being revisited in 2025 with the potential for a pilot program. 🛑🔍🔸 This move reflects a growing dialogue on rent stabilization and affordable housing, amidst rising rent prices that are burdening residents across Virginia.

So, I was wondering if anyone has any good pointers on where to start im open ears Start saving money asap, depending on where your job is you can go about an hour from dc and potentially get a usda loan which is 0% down, though you do have to owner occupipy for a year.

Your network is the most important piece for any potential returns when you invest out of state.Hope all of that makes sense.

Very interested in real life cons to this approach to real estate investing.Thanks.Hi Pamela,Investing in a resort condo in vacation spots like Kissimmee or Orlando can be an appealing real estate venture due to the high tourist traffic and the potential for steady rental income.

Prior to taking on more ambitious improvements, you might build confidence and expertise by starting with a turnkey home.In conclusion, even though BRRR ventures might yield large profits, you should consider the learning curve and any potential difficulties, particularly if this is your first purchase.

The hassle of it all - directly communicating with and qualifying potential buyers, constantly scheduling showings, understanding the paperwork, contracts, contingencies, and timelines.....all cause some sellers to give up on selling it themselves.

And, with only 10% needed down for the purchase of the property, and only 10% down needed for renovations, it seems that if we buy a property right, renovate it and add 10% in value, we could potentially refinance into a more conventional loan without having to bring additional cash to the table .