New investor in Delaware seeking guidance

New investor in Delaware seeking guidance

Newark, DE · Member since 2020 · 19 posts · 14 votes

Hi bigger pockets!

I hope we are are all safe. Does anyone know which area in Delaware would be appropriate for a BRRRR investing? I learned from this forum that I would need a private lender and a bank to refinance my deals; please if you invest in Delaware or have done this before could you advise in how to get started?

My approach so far was to go on Craig list and use the key word "handy man" hoping to find good deals. However, what comes out is usually in very bad shape. Maybe the condition is not that bad but because I have zero experience, the listings I see tend to demand a lot of work in my opinion. My budget to get started is about 20k and my target are 3BR/1BR to rent in ok neighborhood. Does anyone know how to find better deals with good ROI?

If instead, I were to do house hacking, what would you recommend in locating triplexes and renting them out? Please any help would be very much appreciated. The longer I wait I feel like giving up but I know that by taking action with your help I will avoid making certain mistakes and my journey as a BiggerPocket investor would be shiny and solid.

Thanks for your help! Stay safe! 

Armand

1Reply
8 views

1 Reply

Jump to latestLatest
  • Real Estate Broker · Forney, TX · Member since 2019 · 1k+ posts · 399 votes
    6y

    Welcome to BiggerPockets!! I wish the best for you going forward in 2020! I like you approach on finding opportunities. Consider finding a deal and look for a partner. Best of luck for your endeavors.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.