Updated over 7 years ago on . Most recent reply
BRRR strategy expectations
You make your money when you buy, etc.
If I were to buy a 3 br 2 bth single family in a desirable neighborhood, no repairs needed, traditional financing with a 30yr fixed rate mortgage, would i be making a bad investment if I purchased the property through a realtor?
Listening to Brandon's Podcast here makes me think that i need to buy a property that is falling into a sinkhole and covered in black mold and then get my "Justice League" of contractors to fix it up before I can make a profit off of it (using the BRRR strategy).
I desperately want to jump off the high dive into real estate investing but Im deterred because I dont want to buy a property with more cigarette smoke damage than a 1950s casino. Am i being unrealistic? Can i buy something through a realtor and have managed by a professional property manager (assume 10% commission) to make it worth my while?
For discussion lets assume typical Midwest suburbia.