Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

14
Posts
2
Votes
Mark Sherwood
2
Votes |
14
Posts

New Member Introduction and Question

Mark Sherwood
Posted

Hi everyone,

I’ve recently joined Bigger Pockets and am excited to get started in real estate investing! I’ve done a little bit of a house hack accidentally by living in a family owned townhouse and renting out the other bedrooms and then doing a lot of Reno’s ourselves and selling for well above appraised and in a week!

Now I'm looking to get into real estate investing full time and I'm learning as much as I can right now. I'm thinking I will focus on BRRR and/or flips, but my problem now is A) financing and B) location.

Financing I’m still learning about so I’m not too worried about that at this point. My main concern is that I’m moving to a small town of 5,000 people and the prices are lower there compared to other parts of BC, however it’s nowhere near passing the 1% rule!

My question then is how do I get around this? If homes are selling for no less than $300,000 (simply by looking at the MLS, more research is definitely needed) and rent wouldn't exceed $2000, that's not even close to the 1%. Feedback and opinions on this is greatly appreciated as I'm excited to learn more about this! Thank you in advance and thanks for having me here!

Loading replies...