New Investor: BRRRR and leverage

[Michael Mackney]

Hey everyone, new to Bigger Pockets! A little background on myself: I'm a dental resident on Long Island, NY and I started to learn more about real estate investing in my spare time during COVID when I was seeing fewer patients. My plan moving forward is to have real estate be my biggest vehicle for investing with my capital coming from dentistry. 

A question I have is regarding the BRRRR strategy. I am roughly 75% through BRRRR by David Greene and noticed that he recommends buying your first property in cash for a variety of reasons. I was curious if it is ever possible to not buy this first property in just cash and use some financing for leverage? This way you can get into real estate investing sooner without having to wait for the right amount of capital and miss out on the actual opportunity to start investing.

Thanks!

[Dmitriy Fomichenko]

Originally posted by @Michael Mackney:

Hey everyone, new to Bigger Pockets! A little background on myself: I'm a dental resident on Long Island, NY and I started to learn more about real estate investing in my spare time during COVID when I was seeing fewer patients. My plan moving forward is to have real estate be my biggest vehicle for investing with my capital coming from dentistry. 

A question I have is regarding the BRRRR strategy. I am roughly 75% through BRRRR by David Greene and noticed that he recommends buying your first property in cash for a variety of reasons. I was curious if it is ever possible to not buy this first property in just cash and use some financing for leverage? This way you can get into real estate investing sooner without having to wait for the right amount of capital and miss out on the actual opportunity to start investing.

Thanks!

It's good to have you here Michael!