BRRR Getting Started

[Troy Jones]

My wife and I are going to buy 2 BRRRS (either duplex, triplex or 4 plexs) Before the end of the year. My wife is a realtor so we want to leverage her license in this endeavor. We have money for down payment and I am a mortgage broker so we have a good grip on financing but what I need help is with getting her and I trained to do this correctly and picking our method to get these properties. We live in Dallas TX area. I need suggestions on what you would do if you were me to get these 2 BRRRS knocked down before end of year? Thank you!

[Kenneth McKeown]

@Troy Jones any reason why you're trying to BRRRR a MFH? Most MFH are sold at such a premium on market that there won't be room for that strategy unless you find something that is vacant and off market. Due to the scarcity in the market of MFH (and be aware - most MFH are NOT owned by the occupant, they are often tenant occupied) - meaning the owners own it and are using it as a rental property. This means that the likelihood of foreclosure or abandoned or vacant MFH are very slim. You can do direct mail to owners of MFH over 10+ years to find a tired landlord that would be willing to sell - but MFH in general are hard to find at extremely discounted rates enough to use the BRRR strategy especially in Dallas.

My advice would be to do your best to find a MFH to house hack - and have the numbers work well enough with as minimal down as possible then move out after x years or months and move onto the next property. Then you can turn it into a full time rental - and this is exactly what I did. That's just my two cents though.