To BRRRR, or not to BRRRR, that is the question.

[Alex Helbig]

Hello BiggerPockets community!

I'm a newish investor located in St. Louis and I'm in the middle of potentially purchasing my first property. Initially I was wanting to BRRRR the property, but my agent strongly recommends just flipping it. At what point do investors know how to approach a property? When do you know whether a property is better to flip rather than BRRRR?

Also, I'm having difficulties deciding on how I want to finance the purchase and rehab costs. I'm unsure how to decide between hard money, private lenders, or a conventional loan because I still don't fully comprehend the strengths and weaknesses of each. 

I'd love to hear personal examples from other investors who have experience using each route!

[Alan Feldman]

In one of the latest podcasts, we hear David Greene say to take all advice with a grain of salt. Understand why your agent would recommend to flip rather than buy and hold. 

Also, what are your goals from investing? If flipping fits those goals, then it's a fit. If BRRRRing fits those goals, then it's a fit. If you are forcing the deal to fit because it just looks good on paper and your agent wants to close a deal; then maybe it's not a fit.

As for financing the deal, please check out some of the books and guides available on BP.