BRRRR beginner - getting started

[Dan Kim]

Hello BP,

For the past 4 years, I've been listening/reading a lot about real estate, especially the BRRRR method, and want to commit to put it into practice. Every time I felt that this is the time, I would always press the pause button thinking that I have to learn more and be confident with every single step before going in. Whether it is trying to line all my ducks in a row, or being tempted to pay for courses I see on social media, I'm finding that time is flying by and I'm just spinning my wheels. From questions about how to find the right deal, to who is going to lend to me (private money lenders and refi's through banks), it can get overwhelming for a newbie.

Any advice would be greatly appreciated in terms of where I can start. Currently, I'm looking for wholesalers, private money lenders, banks, contractors, etc. to get started. Thank you!

[Nick Belsky]

@Dan Kim

I can speak more to the financing side of things.  To reference Stephan Covey, "begin with the end in mind".  Otherwise, plan your financing all the way through.  Many investors, new and experiences alike, do very well finding fix and flip loans to get going, but fail to plan ahead for the perm loan and run into all kinds of unexpected issues.  Brokers are a great way to help you with both!  Much like finding your ground team to get the rehab done, you need to have a finance team as well.  I always recommend speaking with several lenders/brokers and get a first, second, and third string together to bounce deals off of to see pricing options for both the FnF and perm side of things.  

Cheers!