Whats the best way to find a BRRRR home?

9 Replies

Hello all!!

New investor. I am currently house hacking and it is going great! I jut bought my partner out.

I am looking to get into the BRRRR strategy after watching the live webinar from Brandon yesterday.

For anyone who has successfully used the BRRRR strategy where have you found the best deals?

I will set a reminder for houses on the MLS with y agent.

Has anyone bought foreclosed houses to BRRRR? I am willing to do the work to find the lists and do all the work if that is the best value to find a house.

Thanks for your expertise in advance!

The ways that are alternatives to MLS can offer better returns but also a bit higher risk. Oftentimes the auctions and direct mail campaigns can put newer investors out of their comfort zone so they are okay just taking properties off MLS

I have BRRRRd quite a few times- all of my purchases have been off of the MLS. I've found that there are always deals to be found- they are fewer and further between right now, but the risk can be offset by the higher rents in my area right now. The key is that you have to be ready to offer immediately and make an aggressive offer, but you can still do this in the MLS in many places across the country.

Corby Goade, Real Estate Agent
208-297-3010

You can work with a list broker to find some unique off-market lists for your area. It can be good to mix and match a bit to test what ends up being more effective. Absentee (if your area isn't over-run with investors sending to these guys), Seniors, Financially Unstable...

Thanks for all your advice guys! Gives me a better idea of everything!

Originally posted by @Mitchell Litam :

Hello all!!

New investor. I am currently house hacking and it is going great! I jut bought my partner out.

I am looking to get into the BRRRR strategy after watching the live webinar from Brandon yesterday.

For anyone who has successfully used the BRRRR strategy where have you found the best deals?

I will set a reminder for houses on the MLS with y agent.

Has anyone bought foreclosed houses to BRRRR? I am willing to do the work to find the lists and do all the work if that is the best value to find a house.

Thanks for your expertise in advance!

With the way the market has been going it's been getting tougher & tougher to hit this strategy. Market is so hot right now there aren't a bunch of REO deals just hanging out on the MLS like there used to be. For example I just set up a buyer on an MLS auto drip the other day. He wanted a Lakewood SFR priced under $130,000......There was 1 property available.

Have you looked into buying something at auction?  

James Wise, Real Estate Agent in OH (#2015001161)
216-661-6633

@James Wise I considered the auction. Do I just go to the County website and see what properties they have and what they have listed? Then go to one?

Originally posted by @Mitchell Litam :

@James Wise I considered the auction. Do I just go to the County website and see what properties they have and what they have listed? Then go to one?

 Here is all the info on them.

https://sheriff.cuyahogacounty.us/en-us/foreclosure-sales.aspx

James Wise, Real Estate Agent in OH (#2015001161)
216-661-6633

Join the Largest Real Estate Investing Community

Basic membership is free, forever.