NEWBIE - BRR for my first investment?

Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes

Hi there!
I’m trying to work on being vulnerable about being new and my situation. I always tell myself - “I’ll start connecting when I’m more experience” when in reality, reaching out and laying my cards out might be just what I need.
- I’d love to get some thoughts on my situation. I am 27, payed for a flipping mentorship back in 2021. I feel like I know so much but nothing at all at the same time. I have access to a lot of investors, contractors, and real estate agents but no relationships built with them.
- my financial situation: in a W2 job making about 40k a year (been here about a year). About 40k in a mutual fund. Only debt I have is cc (5k), car loan(abt 4k left). Credit score is about 740.
- I’d like to start off with a brr and get some experience with contractors before going into flipping. I want to get at least one passive income generator under my belt and then do a few flips for some active income.
- my questions are: where do I start? Talking to a real estate agent to find the property? Look for funding first? Talk to HML? See what different lending institutions have to say about my situation? Make connections with contractors? Find the property on my own? Learn more and wait? Save more?
- any thoughts and opinions are greatly appreciated!!!!

8 Reply

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Mackenzie Grate

Real Estate Agent · Ulster County, NY · Member since 2020 · 201 posts · 173 votes

Many people tackle this in different ways, but I always start with the money. I go to a lender (whichever type you prefer or have access to) and find out how much I can get. Then I work backwards from there.

Once I have an idea for how much I can get, then I look for the property. My first few investments I used a real estate agent. Over time, you learn how to source them yourself because you are more confident in your skill set.

Then once you find the property, don't over think it. Put in an offer where your numbers work and just keep doing that until you get something. Don't give up. But also, get started now.

You have more than enough preparation under your belt and when new stuff comes up that you are unsure about (which it always will), you will be able to figure it out as you go.

You have this. Trust me. Good luck!

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Mackenzie Grate
Real Estate Agent · Ulster County, NY · Member since 2020 · 201 posts · 173 votes
2y
Many people tackle this in different ways, but I always start with the money. I go to a lender (whichever type you prefer or have access to) and find out how much I can get. Then I work backwards from there.
Once I have an idea for how much I can get, then I look for the property. My first few investments I used a real estate agent. Over time, you learn how to source them yourself because you are more confident in your skill set.
Then once you find the property, don't over think it. Put in an offer where your numbers work and just keep doing that until you get something. Don't give up. But also, get started now.
You have more than enough preparation under your belt and when new stuff comes up that you are unsure about (which it always will), you will be able to figure it out as you go.
You have this. Trust me. Good luck!
6 Reply
Jaron WallingPro Member
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
2y
I agree with @Mackenzie Grate, you need money. Either your money or someone else's. From personal experience it's easier to use your own on the first deal (less moving parts). Involving other people, family, or partners (OPM) is not necessary.

@Kaitlyn Aragon Are you approved for any loans yet? How much CASH do you have for a remodel and/or down payment? Are you walking properties or doom scrolling the internet? Action speaks louder than words.

1. Save some cash and acquire financing

2. Walk numerous properties

3. Make low competitive offers and start leveraging those connections you already have.
1 Reply
Stuart UdisPro Member
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
2y
Don't allow underwriting properties as a BRRRR be the lone criterion you rely upon. Focus on buying quality real estate. You can purchase a distressed SF home in many markets in the US, renovate the home, obtain an income approach appraisal and get your money back. In most cases, you will likely never see the equity convert to a realized gain and 2-3 years of cash flow will be eaten up by one major capital improvement event because the entry level SF homes struggle to absorb the cost of the repair. To put this another way, would you rather leave your $40,000 of capital in a property for 2 years and then walk away with a $50,000 realization event when you sell the home or in those 2 years complete 3 BRRRR transactions, become frustrated by the reality of owning the low income housing and then sell 3 homes after 5x as much work with no gain? I am not suggesting you can't acquire a BRRRR home (although it's more difficult right now with the higher interest rates), or you will necessarily fair better with the purchase that requires you to leave your $40,000 of capital in the property. I am merely using this as an illustration of how the BRRRR method might lead to owning more homes but not necessarily lead to better return on your money or time. Don't allow the recoup of your money to be the lone decision on whether the property is a good investment.
[email protected]
3 Reply
Eudith VacioPro Member
Real Estate Agent · Chicago & NWI · Member since 2015 · 860 posts · 521 votes
2y
Hey @Kaitlyn Aragon - go girl, go!

I started off with a simple, cosmetic rehab BRRR, and most recently financed a rehab property via a 203k loan. I would definitely speak with a real estate agent / investor + lender to get a better idea of your financing and like @Mackenzie Grate mentioned, work backwards. I don't usually recommend a full gut to my newbie investors because its a ton of work + time + can be a headache but something minor shouldn't be too hard! 💪🏽
1 Reply
Sebastian Bennett
Investor · Bucks County · Member since 2023 · 196 posts · 156 votes
2y
@Stuart Udis raises a good point. Why would you prioritze getting your money back over actually making money? I am beginning to understand from other posts in these forums as well that the better performing real estate opportunties go against the grain of what is being preached.
1 Reply
Hamp Lee IIIPro Member
Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
2y
Have you considered purchasing a multifamily property using a NACA or FHA loan? NACA is a 0 down loan with great benefits. They've been around for decades. Owner occupied might be the best option for you.
I wish you all the best.
0 Reply
James Doren
Investor · United States · Member since 2023 · 26 posts · 22 votes
2y
Quote from @Kaitlyn Aragon:

Hi there!
I’m trying to work on being vulnerable about being new and my situation. I always tell myself - “I’ll start connecting when I’m more experience” when in reality, reaching out and laying my cards out might be just what I need.
- I’d love to get some thoughts on my situation. I am 27, payed for a flipping mentorship back in 2021. I feel like I know so much but nothing at all at the same time. I have access to a lot of investors, contractors, and real estate agents but no relationships built with them.
- my financial situation: in a W2 job making about 40k a year (been here about a year). About 40k in a mutual fund. Only debt I have is cc (5k), car loan(abt 4k left). Credit score is about 740.
- I’d like to start off with a brr and get some experience with contractors before going into flipping. I want to get at least one passive income generator under my belt and then do a few flips for some active income.
- my questions are: where do I start? Talking to a real estate agent to find the property? Look for funding first? Talk to HML? See what different lending institutions have to say about my situation? Make connections with contractors? Find the property on my own? Learn more and wait? Save more?
- any thoughts and opinions are greatly appreciated!!!!

Hi Kaitlyn! I couldn't agree more that while intimidating, laying your cards out is always the best option - it opens you up to making connections that are actually right for you.

I chose to reply to your post because I feel like I was in exactly the same situation not that long ago. I had a ton of knowledge in my head from books, podcasts, masterclasses, but no hands on experience. Similarly, I knew plenty of investors and contractors but had no actual working relationships with people who are already doing what I wanted to do. I wanted to get started so badly, but didn't have the experience to get the trust of investors, and didn't have the full amount of funds needed to buy a deal all on my own.

My wife and I realized there are so many people in this exact situation. We created our company, Rise Up capital, for this exact reason. What we do is recruit people in this exact situation, like we were in, to act as private investors to one of our upcoming deals. What we do different from anyone else we've been able to find, is actually provide complete transparency into the process from the purchase of the deal, the entire rehab including costs, renting out the property, and the refinance process (most of our deals are BRRRRS). You can be as involved as you wanted to be, so we actually show how we execute our deals with your money. Apart from making a nice 10%+ return on your investment, you get that first-hand experience that's so difficult to get.
For us, our first deal opened up so many doors - I personally found it so much more valuable actually working the process than just reading, thinking, and talking about it. After that, it was like a ball over a hill and we just kept rolling forward. Our investors are living proof of this as well - 85% of them have gone on to fund their own successful deals after working with us, and 100% of the investors we've worked with have chosen to invest with us a 2nd time.

My point overall, is that there's this weird gap of having the knowledge, wanting to get started, and having the experience necessary to move forward with the appropriate amount of risk. It's just a matter of finding the right vehicle to move forward in. Because of my corporate background, I liken it to applying for an entry level job that requires 5 years experience.. and it's frustrating! Happy to chat if you're interested in learning more.
Wish you all the best!
James
5 Reply
Yang Yang
Realtor · San Diego, CA · Member since 2021 · 6 posts · 1 vote
2y
@Kaitlyn Aragon Hi Kaitlyn! I’m a luxury realtor in San Diego who also specialize in flips and work with investors. I recommend increasing your current salary, pay off all of your debts, open few more CCs to have access to credit lines, and save a bit more so you can either flip or house hack your first property. Buy something you can afford and rent out the other rooms to college students. Once you can secure the first property for a year, you can start thinking of another one and so on!
0 Reply
Jake BakerBusiness Member
Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 695 votes
2y
@Kaitlyn Aragon
A BRRRR is a great way to start. I brrrrd my first property in Jacksonville FL. I used hard money and about 40k of my own money for downpayment and part of the rehab. I left about 20k in the deal.
It wasn't a homerun. It was a base hit. It allowed me to establish relationships with contractors and agents in the area.
From there I saved up for another one. After a couple reps, I had the confidence to raise money and bring in investors.
Dont worry about perfect brrrs and massive ROIs. That comes with more experience
[email protected]
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2 Reply
Carrie Matuga
Lender · Riverside, CA · Member since 2017 · 248 posts · 98 votes
2y
@Kaitlyn Aragon
I'd start by setting aside time each day to analyze 5 deals in your chosen market. See if the BRRR would work based on current rental rates (ideally last 90 days but no more than 6 months out) and what similar fixed properties are selling for. At the same time I'd talk with a few lenders and get prequalified - get your documents in order! AND probably most important, talk with an investor-friendly real estate agent - learn the market, get property management recommendations and look at facebook groups for other investors in your chosen market.
1 Reply
Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
2y
My opinion

BRRRR can be risky if it is your first deal.
I think a house-hack would likely be the better / safer approach.

With $40,000, you can potentially buy a $500,000 house assuming you put $25,000 towards the 5% down payment, $5,000 is used towards closing costs and $10,000 as a reserve just incase something needs to be fixed up.
[email protected]917-280-8544
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0 Reply
Mikeala Weaver
Member since 2024 · 14 posts · 2 votes
2y
Quote from @Kaitlyn Aragon:

Hi there!
I’m trying to work on being vulnerable about being new and my situation. I always tell myself - “I’ll start connecting when I’m more experience” when in reality, reaching out and laying my cards out might be just what I need.
- I’d love to get some thoughts on my situation. I am 27, payed for a flipping mentorship back in 2021. I feel like I know so much but nothing at all at the same time. I have access to a lot of investors, contractors, and real estate agents but no relationships built with them.
- my financial situation: in a W2 job making about 40k a year (been here about a year). About 40k in a mutual fund. Only debt I have is cc (5k), car loan(abt 4k left). Credit score is about 740.
- I’d like to start off with a brr and get some experience with contractors before going into flipping. I want to get at least one passive income generator under my belt and then do a few flips for some active income.
- my questions are: where do I start? Talking to a real estate agent to find the property? Look for funding first? Talk to HML? See what different lending institutions have to say about my situation? Make connections with contractors? Find the property on my own? Learn more and wait? Save more?
- any thoughts and opinions are greatly appreciated!!!!

Hey Kaitlyn.
Welcome. I know exactly what you mean as far as putting yourself out there. From what you've said, you have all the resources you need to get started from my opinion. You have to start somewhere. I came across a quote, "If you've never made a mistake, then you've never tried anything new." I think that was Albert E that made that quote. As we take action, we learn what to do and not to do. Things will start to make more sense. We can have all the knowledge in the world but know nothing if we haven't experienced it.
I'm also new to and it's taken me a while to get the this point. I get nervous when it comes to meeting new people. Doing things that are unknown is natural. That's the "fun part." That's creating room for you to grow. If you're not learning and taking action, then your not growing.
Anyways, I was just providing words of encouragement. I wish you success in your business. :)
1 Reply
Michael Dumler
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
2y
@Kaitlyn Aragon, tl;dr others responses. Given your position, I'm going to steer you in a different direction. House hack your first deal before tackling a BRRRR or flip. Just my opinion. Connect with an agent who has house hacked before or regularly works with house hackers. You can either find an agent on BP or most likely at your local investment meet-up. Get pre-approved. Start making offers. Close on the deal. If you're currently renting, then going this route makes even more sense. Good luck!
2 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Mackenzie Grate:

Many people tackle this in different ways, but I always start with the money. I go to a lender (whichever type you prefer or have access to) and find out how much I can get. Then I work backwards from there.
Once I have an idea for how much I can get, then I look for the property. My first few investments I used a real estate agent. Over time, you learn how to source them yourself because you are more confident in your skill set.
Then once you find the property, don't over think it. Put in an offer where your numbers work and just keep doing that until you get something. Don't give up. But also, get started now.
You have more than enough preparation under your belt and when new stuff comes up that you are unsure about (which it always will), you will be able to figure it out as you go.
You have this. Trust me. Good luck!

You're not alone with this approach. By far the #1 thing i've been advised to do. Do you have any recommendations for loan products? Or is it more so just to get an idea of what I will have access to?
0 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Eudith Vacio:

Hey @Kaitlyn Aragon - go girl, go!

I started off with a simple, cosmetic rehab BRRR, and most recently financed a rehab property via a 203k loan. I would definitely speak with a real estate agent / investor + lender to get a better idea of your financing and like @Mackenzie Grate mentioned, work backwards. I don't usually recommend a full gut to my newbie investors because its a ton of work + time + can be a headache but something minor shouldn't be too hard! 💪🏽

Thank you for sharing your experience! I have found it difficult to find cosmetic rehabs in general. I am mainly seeing extremely distressed and turn key. Hopefully once I connect with a good RE agent this will change. Thank you again for your words of encouragement - it truly makes a difference!
0 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Hamp Lee III:

Have you considered purchasing a multifamily property using a NACA or FHA loan? NACA is a 0 down loan with great benefits. They've been around for decades. Owner occupied might be the best option for you.
I wish you all the best.

I have heard good things about the NACA loans. I need to look into this more as my only hesitation is I don't want to be stuck living somewhere I don't want to be for a long period of time.
Thanks for your input, Hamp. Very much appreciated.
1 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @James Doren:

Quote from @Kaitlyn Aragon:

Hi there!
I’m trying to work on being vulnerable about being new and my situation. I always tell myself - “I’ll start connecting when I’m more experience” when in reality, reaching out and laying my cards out might be just what I need.
- I’d love to get some thoughts on my situation. I am 27, payed for a flipping mentorship back in 2021. I feel like I know so much but nothing at all at the same time. I have access to a lot of investors, contractors, and real estate agents but no relationships built with them.
- my financial situation: in a W2 job making about 40k a year (been here about a year). About 40k in a mutual fund. Only debt I have is cc (5k), car loan(abt 4k left). Credit score is about 740.
- I’d like to start off with a brr and get some experience with contractors before going into flipping. I want to get at least one passive income generator under my belt and then do a few flips for some active income.
- my questions are: where do I start? Talking to a real estate agent to find the property? Look for funding first? Talk to HML? See what different lending institutions have to say about my situation? Make connections with contractors? Find the property on my own? Learn more and wait? Save more?
- any thoughts and opinions are greatly appreciated!!!!

Hi Kaitlyn! I couldn't agree more that while intimidating, laying your cards out is always the best option - it opens you up to making connections that are actually right for you.

I chose to reply to your post because I feel like I was in exactly the same situation not that long ago. I had a ton of knowledge in my head from books, podcasts, masterclasses, but no hands on experience. Similarly, I knew plenty of investors and contractors but had no actual working relationships with people who are already doing what I wanted to do. I wanted to get started so badly, but didn't have the experience to get the trust of investors, and didn't have the full amount of funds needed to buy a deal all on my own.

My wife and I realized there are so many people in this exact situation. We created our company, Rise Up capital, for this exact reason. What we do is recruit people in this exact situation, like we were in, to act as private investors to one of our upcoming deals. What we do different from anyone else we've been able to find, is actually provide complete transparency into the process from the purchase of the deal, the entire rehab including costs, renting out the property, and the refinance process (most of our deals are BRRRRS). You can be as involved as you wanted to be, so we actually show how we execute our deals with your money. Apart from making a nice 10%+ return on your investment, you get that first-hand experience that's so difficult to get.
For us, our first deal opened up so many doors - I personally found it so much more valuable actually working the process than just reading, thinking, and talking about it. After that, it was like a ball over a hill and we just kept rolling forward. Our investors are living proof of this as well - 85% of them have gone on to fund their own successful deals after working with us, and 100% of the investors we've worked with have chosen to invest with us a 2nd time.

My point overall, is that there's this weird gap of having the knowledge, wanting to get started, and having the experience necessary to move forward with the appropriate amount of risk. It's just a matter of finding the right vehicle to move forward in. Because of my corporate background, I liken it to applying for an entry level job that requires 5 years experience.. and it's frustrating! Happy to chat if you're interested in learning more.
Wish you all the best!
James

Hey James, I am so glad you can relate! This sounds interesting. Essentially I would be a Gap Funder for a deal + get to be a part of the ins and outs? I have considered Gap Funding in the past and my main hesitation was that I wouldn't get any experience under my belt + my money would be tied up for 3-6 months. Would like to know more.
Thanks for your reply!
0 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Yang Yang:

@Kaitlyn Aragon Hi Kaitlyn! I’m a luxury realtor in San Diego who also specialize in flips and work with investors. I recommend increasing your current salary, pay off all of your debts, open few more CCs to have access to credit lines, and save a bit more so you can either flip or house hack your first property. Buy something you can afford and rent out the other rooms to college students. Once you can secure the first property for a year, you can start thinking of another one and so on!

Steven, I greatly appreciate your advice!
0 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Jake Baker:

@Kaitlyn Aragon
A BRRRR is a great way to start. I brrrrd my first property in Jacksonville FL. I used hard money and about 40k of my own money for downpayment and part of the rehab. I left about 20k in the deal.
It wasn't a homerun. It was a base hit. It allowed me to establish relationships with contractors and agents in the area.
From there I saved up for another one. After a couple reps, I had the confidence to raise money and bring in investors.
Dont worry about perfect brrrs and massive ROIs. That comes with more experience

Hey Jake, Thanks for breaking down that first deal you did - very helpful. I am done aiming for perfect, I am just ready to do it and learn and go again!
1 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Carrie Matuga:

@Kaitlyn Aragon
I'd start by setting aside time each day to analyze 5 deals in your chosen market. See if the BRRR would work based on current rental rates (ideally last 90 days but no more than 6 months out) and what similar fixed properties are selling for. At the same time I'd talk with a few lenders and get prequalified - get your documents in order! AND probably most important, talk with an investor-friendly real estate agent - learn the market, get property management recommendations and look at facebook groups for other investors in your chosen market.

Oooo I love this reply! Thank you, Carrie! Thank you for providing actions I can take immediately. I have trouble analyzing markets (or at least doing that correctly). Any advice on that would be very helpful.
0 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Basit Siddiqi:

My opinion

BRRRR can be risky if it is your first deal.
I think a house-hack would likely be the better / safer approach.

With $40,000, you can potentially buy a $500,000 house assuming you put $25,000 towards the 5% down payment, $5,000 is used towards closing costs and $10,000 as a reserve just incase something needs to be fixed up.

I am open to House Hacking! I think I just worry I will be stuck being forced to live in a property I no longer want to live in. BUT if that's my avenue in - i'll take it! I have been looking for a duplex so I can house hack but still have my own space.. that is big for me. Do you know which loan products would allow me to put 5% down? Any recommendations are greatly appreciated.
0 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Mikeala Weaver:

Quote from @Kaitlyn Aragon:

Hi there!
I’m trying to work on being vulnerable about being new and my situation. I always tell myself - “I’ll start connecting when I’m more experience” when in reality, reaching out and laying my cards out might be just what I need.
- I’d love to get some thoughts on my situation. I am 27, payed for a flipping mentorship back in 2021. I feel like I know so much but nothing at all at the same time. I have access to a lot of investors, contractors, and real estate agents but no relationships built with them.
- my financial situation: in a W2 job making about 40k a year (been here about a year). About 40k in a mutual fund. Only debt I have is cc (5k), car loan(abt 4k left). Credit score is about 740.
- I’d like to start off with a brr and get some experience with contractors before going into flipping. I want to get at least one passive income generator under my belt and then do a few flips for some active income.
- my questions are: where do I start? Talking to a real estate agent to find the property? Look for funding first? Talk to HML? See what different lending institutions have to say about my situation? Make connections with contractors? Find the property on my own? Learn more and wait? Save more?
- any thoughts and opinions are greatly appreciated!!!!

Hey Kaitlyn.
Welcome. I know exactly what you mean as far as putting yourself out there. From what you've said, you have all the resources you need to get started from my opinion. You have to start somewhere. I came across a quote, "If you've never made a mistake, then you've never tried anything new." I think that was Albert E that made that quote. As we take action, we learn what to do and not to do. Things will start to make more sense. We can have all the knowledge in the world but know nothing if we haven't experienced it.
I'm also new to and it's taken me a while to get the this point. I get nervous when it comes to meeting new people. Doing things that are unknown is natural. That's the "fun part." That's creating room for you to grow. If you're not learning and taking action, then your not growing.
Anyways, I was just providing words of encouragement. I wish you success in your business. :)

THANK YOU, sweet stranger! I am so thankful for people like you in this community. It makes doing this whole investing thing not feel as big and scary. I appreciate your encouragement - sometimes it can make all the difference. I wish you the best, Mikeala!
1 Reply
Kaitlyn Aragon
OP
Investor · Charlotte, NC · Member since 2023 · 26 posts · 21 votes
2y
Quote from @Michael Dumler:

@Kaitlyn Aragon, tl;dr others responses. Given your position, I'm going to steer you in a different direction. House hack your first deal before tackling a BRRRR or flip. Just my opinion. Connect with an agent who has house hacked before or regularly works with house hackers. You can either find an agent on BP or most likely at your local investment meet-up. Get pre-approved. Start making offers. Close on the deal. If you're currently renting, then going this route makes even more sense. Good luck!

House hacking is definitely being considered! I really appreciate your advice.
0 Reply
Jeffrey McKeePro Member
Real Estate Agent · Plano, TX · Member since 2013 · 477 posts · 88 votes
2y
Quote from @Kaitlyn Aragon:

Hi there!
I’m trying to work on being vulnerable about being new and my situation. I always tell myself - “I’ll start connecting when I’m more experience” when in reality, reaching out and laying my cards out might be just what I need.
- I’d love to get some thoughts on my situation. I am 27, payed for a flipping mentorship back in 2021. I feel like I know so much but nothing at all at the same time. I have access to a lot of investors, contractors, and real estate agents but no relationships built with them.
- my financial situation: in a W2 job making about 40k a year (been here about a year). About 40k in a mutual fund. Only debt I have is cc (5k), car loan(abt 4k left). Credit score is about 740.
- I’d like to start off with a brr and get some experience with contractors before going into flipping. I want to get at least one passive income generator under my belt and then do a few flips for some active income.
- my questions are: where do I start? Talking to a real estate agent to find the property? Look for funding first? Talk to HML? See what different lending institutions have to say about my situation? Make connections with contractors? Find the property on my own? Learn more and wait? Save more?
- any thoughts and opinions are greatly appreciated!!!!

Hi,
I'd be happy to assist you with your real estate requirements. Join our weekly webinar for additional insights into the real estate field. Feel free to get in touch if you're interested.

0 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
2y
@Kaitlyn Aragon

i like what @Michael Dumler said.
unfortunately BRRRR is very difficult right now. and let's be very clear: a successful BRRRR gets you a big equity boost. but it is not a passive income generator. you will likely break even, especially if you refinance into a DSCR loan with a higher interest rate.
i just did a rehab i hoped would be a BRRRR but it wasn't going to appraise OR cash flow! so i had to sell it. great project and i am proud of the rehab that was done. but it wasn't a BRRRR - the market was unforgiving.
0 Reply

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