Multifamily BRRR Strategy
Wanted to get some opinions and thoughts on my mulit-family real estate business strategy:
I have experience as a multifamily architect but I want to get into investing/development. My plan is to start with 2-4plex with Cap Rate of 8%-10% here in Houston or Harris County using the BRRR strategy. I will do 4 of these by the end of 2017, and after getting enough experience renovating, start my development arm by building a small multifamily for my family to live in (using FHA loan) for 2 years. I will essentially swap back and forth between BRRRR and development depending on the market to continue build my business.
My dream is to provide more housing options here in Houston and foster a sense of community in my multi-family. Also have the financial freedom to be with my family and to serve here and overseas when I want to as a volunteer architect for underserved/developing communities.
Thanks in advance for any feedback!