Strategies for an expensive market?

[Mike Lock]

Hi Everyone,

Thanks for reading. I’m brand new on my journey and exploring rental income strategies. For my first deal I’d strongly prefer to stay local, but my market (greater Boston) is expensive and overheated.

I'm intrigued by the BRRRR method but the required up front capital is a bit daunting and the cash yield seems thin, even with rents as high as they are.

Has anyone had success with the BRRRR method in expensive markets? Are there other strategies I should think about or do I need to look to other markets?

Thanks very much in advance.

[Mike Dymski]

BRRRR works better in expensive markets. Every $1 of NOI increase can result in a $20 increase in value vs a $10 increase in value in a less expensive market.