Multifamily or BRRRR for first time investor?
Hi fellow BP members, my wife and I are very interested in real estate investments, we have seem numerous youtube videos, podcasts and attend some real estate seminars. We have 140K from a cash out refinance and after watching so many videos we are still undecided in our strategy, multifamily rentals or BRRRR? We live in California and we believe our money will give us a better CoC ROI and cash flow basically anywhere else outside California. What would you do?, pay cash for one property up to 100K with a budget of 40K for renovation? or Use the money for a 20-25% down payment for multiple properties?
We are looking for a CoC ROI of at least 10%. Any feedback, recommendation, and suggestion will be greatly appreciated.