Updated almost 6 years ago on . Most recent reply
BRRRR vs. Rental Property for first time investor
I am a new investor in the Southern NH/Boston area. For all my beginners out there who have completed their first deal, looking back do you advice going the BRRRR route or getting your feet wet with a turn-key rental property for your first deal?
It makes more sense to seek BRRRR deals long-term which I plan on doing. But my concerns are that I'd be biting off more than I can chew. My initial plan was to just jump into a rehab project with BRRRR, find a good team, and figure it out on the way. But I wasn't sure if that was advisable or not for beginners.
Here's my situation:
- I'm in my late 20's and would be a first-time home buyer.
- I can help with small rehab tasks (painting, flooring, toilets, etc) but have no rehab experience beyond that.
- I am learning to estimate rehab projects but I would definitely need some assistance.
- Capital is not a limiting factor at the moment