Getting Started BRRRR in Kansas City
Hey Everyone,
I'm looking for a little guidance on how to move forward. I'm an out-of-state investor in Kansas City and have spent a year being a landlord (10 doors total). My realtor found me solid cash-flow deals on multi-family properties and I'm at about an average of 10% ROI. So far I'm pretty satisfied, but people I know are recommending I pause and consider BRRRR for either larger ROI or even just buying/rehabbing/reselling (aka: flip) to generate another stream of income as I try to slowly get my foot out the door with my current day job.
Right now I'm entirely invested in my day job. My day job has allowed me to be a cash buyer and is the reason I have 10 doors in under a year, so I can't and don't want to forego my day job. This leads me to think I need a middleman? Someone to find the deals, do the rehabbing, and maybe take a cut of the profit as incentive?
The realtor I normally use mentioned that he does rehabs (mostly for his own investments) and he's got a solid work ethic, knowledge of the area, and crew, but he only does a small handful per year. We've spoken about it at length, but I'm assuming this is the part where I grow my network and perhaps try to find enough people who can help me as my budget grows and perhaps my demand for business grows?
I don't exactly know who would be the right people to speak with, what the right incentive would be, and who to trust/stay away from. Should I try working with my Property Management company on this?
If I could I would honestly try to do it all by myself, but I simply don't have the time as my business stays pretty busy throughout the year.