HELP!!! Trying to buy first BRRRR
I'm trying to get my first investment going to start my real estate portfolio. The frustration is that I search through what seems like hundreds of properties that are within my buy criteria, when I find one it gets scooped up before I can make an offer. I'm open to all suggestions. Is there any "tricks to the trade" when buying your first? I've been sticking with the 70% ARV - minus repairs strategy for my offer. It just seems to price me out of competition more often then not...
Most Popular Reply
Hi @Brandon Cronkhite! If you're getting hundreds of properties that fit your criteria, then sharpen the pencil and make hundreds of offers - or refine your criteria. If you clarify exactly what you're looking for, you don't have to sift through hundreds, but if in reality you really would be happy with any of those, then make offers on all - it is free to do. Don't get loose on your numbers though - keep them tight. On a BRRRR deal, the rehab is always more than you think.