Trying to find deals for BRRRR method in Reno, NV

[Lyle Stoddard III]

I'm new to the whole real estate investing thing, so apologies if I sound like a complete rookie. But I've looking for my first property to BRRRR in the Reno, NV area. However I am really struggling to know where to look for deals. If anyone could help me out with any information I will listen and greatly appreciate it!

[Alexander Yates]

Lyle,

Ditto to what others mentioned above. It is tough to find deals right now; you have to make them.

If you plan to live here, house hacking is definitely the way to go. I got started with a 4BR single family house here in Reno where my spouse and I lived in the master bedroom and rented out the other 3 rooms. We renovated here and there as rooms turned over and then did a major remodel after about two years to substantially increase the value.

As far as where to look, I would start by connecting with people at meetups like Ginger's (there is another one in town put on by Alex Ficco) - talk with realtors about what you're looking to do and connect with wholesalers to get on email lists for off-market properties. There are other tools you can use (such as Invelo - included with BP pro) to contact homeowners directly if you're looking for your own off-market properties. Rachel mentioned above that you should analyze deals - find a tool you are comfortable with (even if it's not the BP calculator) and learn what numbers work for you so you can hone in on your criteria. A simple method I've used in the Reno area to quickly evaluate whether a property is worth looking further into is price per square foot. Another suggestion is to look at days on market. Owners of properties that have been on the market longer may be more willing to negotiate on price and/or terms. 

Just a few suggestions from someone still early in their RE journey. Hope this helps and wish you the best of luck. Keep us posted on how your search goes!

Cheers,
Alex