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Updated over 6 years ago on . Most recent reply

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Luke Peake
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Research phase complete! Now how do I find those great deals?

Luke Peake
Posted

Hi all, I am an Aussie and been living in the US for about 2.5 years. I have owned realestate previously in Australia however am a new investor here in the USA. I have been doing extensive research over the past months in the way of listening to a Podcast almost every day, as well as reading realestate investing books, going through these forums and lots of Googling. I was stuck on what my goals and approach should be as I know there is a bunch of different approaches in realestate investing, and was confused as to which direction I wanted to go. However, I now feel I have locked down my goals. I am going to go with the BRRRR method, targeting out-of-state positive cash-flowing SF properties, will get a few of those under my belt for the experience and to build some equity, before transitioning to MF. I am in the process of narrowing down markets which not only cash-flow positive (1% rule), but also markets which try to adhere to the 7 factors for successful investing; such as population and job growth, diversified economy, landlord and business friendly and in a rising market, therefore giving appreciation potential (and yes I know thats basically like winning the lotto but if I can even cover most of the those factors then I will be happy). So now that I have done all of the above, and feeling much more confident to enter the market, I am stuck as to how to actually find the great deals! Who do I contact or where do I look to get those 70c to the dollar, off-market rehab, or wholesale deals so that I can successfully BRRRR myself all the way to early retirement? I feel using Trulia, Refin or Zillow just won't land me those types of finds. Love you guys and your help is very much appreciated!

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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

First, (and last...temporarily) if you don't know where to start, then your research phase isn't over...yet.

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