Starting to BRRRR - how does this process look?

[Seth S.]

Hey BP! 

I have some money saved up and am ready to start my REI journey. When I sat down a while ago to figure out exactly how I want to go about this, I decided on the following:

1) Save up money enough to finance a BRRRR deal myself (duplex preferably) out of state

2) I am quiet handy, so when the deal closes, I would spend some time working on it + hiring out contractors for some of the rehab

3) I want to document the complete process (how I analyzed the deal; came up with numbers for rents & costs; closing the deal; rehab costs & times with before & after pics; the PM process until being rented out) and set it up in a neatly looking binder/PDF so its very presentable. 

4) Present the deal to potential investors I have already lined up and go from there

Does that sound like a good way to get started? I know that a lot of deals are made starting off with other people's money, but I personally feel that if I ask you for money, I want to show you what the process looks like, that I've been down that path and how it all looks. 

I appreciate any feedback & suggestions to try and see if I am missing a bigger picture!!

[Seth S.]

@Ryan Rominger

Hey Ryan; thanks for the intro. Indy is definitely one of the markets I am looking at and keeping a close eye on. 

PM coming your way!