New. Flips, BRRRR

Columbia, Maryland
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New. Flips, BRRRR

Alexander Vasiliev
Flipper/Rehabber · Elkridge, MD · Member since 2019 · 6 posts · 0 votes

My name is Alexander,

Left my W2 job

Ready dive in into real estate full time,

Electrical engineer by trade,

When came to US worked in construction (framing) for 9 years.

Worked as production manager for a military contractor for 10 years.

Want to buy a property to BRRRR.

Please advice.

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  • Michael Thach
    Member since 2019 · 144 posts · 93 votes
    2y

    Go to local auction and buy a property and rehab it, sell it for cashflow until renting them out make sense. High interest rate make it difficult to rent and refinance because to often rent don't cover refinance cost. 

    You have experience in construction so it will be easier for you to get a team together to flip properties.

    0Reply
  • Alexander Vasiliev
    OP
    Flipper/Rehabber · Elkridge, MD · Member since 2019 · 6 posts · 0 votes
    2y

    Thank you Michael,

    I am not familiar whit auctions,

    Where can I find it?

    Thank you.

    0Reply
  • Account Closed
    New to Real Estate · TX · Member since 2023 · 27 posts · 29 votes
    2y

    start learning and educating yourself before investing your money in real estate, how to find good deals and etc.

    0Reply
  • Alexander Vasiliev
    OP
    Flipper/Rehabber · Elkridge, MD · Member since 2019 · 6 posts · 0 votes
    2y

    Thank you Wesley

    0Reply
  • Corby GoadeBusiness Member
    Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
    2y
    Quote from @Alexander Vasiliev:

    My name is Alexander,

    Left my W2 job

    Ready dive in into real estate full time,

    Electrical engineer by trade,

    When came to US worked in construction (framing) for 9 years.

    Worked as production manager for a military contractor for 10 years.

    Want to buy a property to BRRRR.

    Please advice.


     Welcome! Glad you posted. 

    Do you understand the full scope of how BRRRR works? You'd need to qualify for a loan on the back end and having recently left your W2, do you know if that's possible? How would you finance the purchase?

    0Reply
  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    2y

    Welcome, many on these forums can provide plenty of advice and guidance, regarding the financing piece, please check out this article I wrote and published on BP about all the options for financing BRRRR (pros, cons etc.)

    https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

    [email protected]
    Harpoon Capital514 Reviews
    WebsiteView Page
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  • Alexander Vasiliev
    OP
    Flipper/Rehabber · Elkridge, MD · Member since 2019 · 6 posts · 0 votes
    2y

    Thank you Robin

    0Reply
  • Alexander Vasiliev
    OP
    Flipper/Rehabber · Elkridge, MD · Member since 2019 · 6 posts · 0 votes
    2y

    Thank you Robin

    0Reply
  • Sloane Kraftsow
    Lender · New York, NY · Member since 2023 · 749 posts · 510 votes
    2y

    Hi Alexander! I would love to connect and hear more about your real estate investing goals.

    0Reply
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