Hello from a novice in Washington County, Maryland!

[Jocelyn Borg]

Hey there BP! My fiancé and I (@Tyler Lushbaugh - he should be along soon with his intro) decided to get into real estate investing this January after a strange but fortuitous string of events basically lit up a big neon sign that said "DO THIS!" Anybody know what I mean?! Sometimes the universe hints pretty loudly!

We are super excited to get started - we are going to dive in with wholesale and continue developing our investment strategy while we build some capital, experience, and income. I still have a day job, but Tyler left his corporate job last October. Yes, huge leap of faith, I know! Somehow we've managed to do just fine, which tells me we made the right choice. Was it scary? Hell yeah! But exhilarating at the same time. Sometimes you find yourself at a crossroads and you just have to make a change. 

Anyways, thanks for listening, and thanks in advance for all the awesome help and support I know we'll get from this community - I can't tell you how excited I was when I discovered BP!! Not just great information from the founders, but so many experienced people being beyond generous with their time and knowledge. I'm pumped to be a part of it!

[Larry Fried]

Originally posted by @Jocelyn Borg:

Thank you Andrew Syrios , Upen Patel , and James Rippeon !

One of the things I'm struggling the most with is wether or not to get started with turnkey type rentals, either in my local market or elsewhere, OR start with something a little more creative, such as a BRRRR project. Can anyone provide some insight or questions I might ask myself as to how to go about deciding these things? How might one determine what the right entry point is? Any help would be greatly appreciated!!

Jocelyn, you can start by assessing how involved or how passive do you want to be in your REI? Turnkey being the much more passive route over BRRR? This will also have to do with your willingness to get into the details of acquisition, cost analysis of rehab needed, construction, and property management. Also with turnkey you can finance at purchase with a conventional loan, with BRRR you are going to have to put up all the cash or obtain hard money, and then refinance out when done (Delayed Financing or Seasoned). So part of your question is how much cash to you have to invest and are willing to put at risk. BRRR carries a lot heavier risk assumption on your part, but can mean you have a substantial amount in equity over buying turnkey, which are usually at or close to market prices. In short, more work and more risk = BRRR, more passive and less risk upfront = turnkey.