Attorney · Forest Hills, NY · Member since 2019 · 73 posts · 57 votes
Fellow investors:
I'm looking for a market to begin a BRRRR investment. I would like to invest in a small multi family (3-4) unit. I've been searching in various markets but I cannot seem to lock into a particular market. I currently live in Jersey City, NJ and I would prefer to invest in a market with a 2-4 hour drive. Has anyone had success finding market within the area?
Hey Mark, I'm not from the area, but I think you have a good start with the 2-4 hour drive criteria. For the first one, pick something that is manageable by a drive should the need arise to go to the property under emergency. Look into secondary markets that have a rise in population, stable employment, and diverse employers. Good luck!
@Marky Suazo I live in NJ also. If I can ask, why are you limits yourself to 2-4 hour drive? Also my suggestion if you're gonna do a BRRR strategy is to make sure your end refinance is locked in before pulling the trigger. Otherwise you can end up stuck in a bad loan
@Dan Barli The 2-4 hour drive is arbitrary. I would like to visit the property. But I realize that with modern technology and bigger pockets, Investing anywhere in the country is an option. Do you have any market suggestions?