Updated about 4 years ago on . Most recent reply
New to BP. What can I do to hit the ground running?
Hello BP! New listener and big fan of the podcast. I have listened to about an episode a day for the past 2 months and read How To Invest In Real Estate by Brandon. Currently I do not have much savings (working on it) and not a great credit score (also working on it). My plan is to househack my first property. Is there anything I can do now or do I just need to keep my head down and save/build credit?
I know Brandon would say to analyze, analyze, analyze, and I will but I always get stuck on estimating the potential rehab cost. Anything helps.
Also, can you brrrr a house hack?
Thanks!
Most Popular Reply
@Cole Pasquale welcome to the forums Cole! Congrats on taking that next step in planning your first investment. Adn you're on the right track by building up your cash and your credit.
Yes you can BRRR a house hack. That's what my wife and I are currently doing. One unit was a complete gut. Totally destroyed by a tenant that was there for 17 years with the previous owner. Fortunately that tenant had vacated prior to our purchase.
Definitely keep analyzing deals as it is kinda like practicing anything else. You can get good at it and recognize better deals quickly especially when it becomes time for you to pull the trigger.
Other than saving and building your own credit, you could partner with an investor but in my opinion it's well worth the wait and work to do the first one yourself. Along with all the lessons you'll learn, it's great experience.