Strategies for this area
What are some strategies that would work here? I want my first investment to be an an area I know so, somewhere in Pinellas County. But, home prices are high and rents just aren't high enough. I don't need crazy cash flow but don't want to lose money every month to cover expenses. I would like to do BRRRR strategy but don't think it will work in the market. I was thinking maybe finding large properties that I could add an ADU to make it work. I just need an Idea I can dig into that will work. Thank you guys.
Most Popular Reply
Hey Travis. It looks like you are a new investor. I would recommend you talk to some realtors in your area to see places that are up and coming. Places that they believe, based off data, will increase in value. Also, you can think about going into another area to stretch your cash as much as possible.
I won't lie. Finding a BRRR deal in this market is TOUGH but it can be done. I have people here in Memphis that I work with that get off market properties at a good deal. That definitely helps when trying to build your portfolio in a new market. Get with reliable wholesalers. YOU GOT! Please update us when you get your first deal. If you need anything you can message me.