Rookie Investor Strategy Evaluation
Hello BP peeps. I recently introduced myself and advised I’m in the Tampa Bay Area and my W2 career is a police detective. I’m also currently taking the 63 hour online class to obtain a RE license. Being ones incredibly patient and makes very educated decisions, I’m just soaking up as much knowledge via book (just read Financial Freedom with Real Estate Investing by Michael Blanks) and free audiobooks via YouTube, and many podcasts on here.
I LOVE the idea of utilizing the BRRRR method. That being said, with the housing market where it is and an obvious correction in the future, makes me wonder if it would be difficult to refinance. Would my concern be valid and if so, would flipping be more wise so as to lock in potential profits and repeat that strategy…for now?
One last question, I know there MANY of great deals out there off-market and my county provides a pretty decent process for viewing Probates, which I can then cross check with the Property Appraisers Office (don’t worry, I won’t be handing out cards to families of the deceased that I’m investigating). Is this strategy still effective and/or is Driving for Dollars still work as well? Thank you all for any possible input.