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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

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Andrew Coletta
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Looking for first property

Andrew Coletta
Posted Mar 26 2024, 07:45

I'm ready to pick up my first property to BRRRR. I'm in the metro Detroit area and I'm having difficulty selecting the exact area and what kind of property value I should be looking at.

I have a HELOC and a hard money lender in place for when one comes up.


Does anyone have suggestions on where I can find potential properties that would allow a successful BRRRR?

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Jaime Duron
  • Realtor
  • Austin, TX
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Jaime Duron
  • Realtor
  • Austin, TX
Replied Mar 26 2024, 08:05

Hey Andrew! I would talk to property managers or realtors in your area and ask them what neighborhoods or zip codes they would recommend. Ensure you have your buy box in place, bc you never know if they have any coming available or off market deals. I would also go on rentcast to see what the comps are in the area to get a projection of the rental market, but the property manager/realtors can give you that info. Hope that helps!

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Andrew Coletta
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Andrew Coletta
Replied Mar 26 2024, 08:35

Thank you Jaime

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Jake Baker
Tax & Financial Services
Pro Member
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • San Diego, CA
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Jake Baker
Tax & Financial Services
Pro Member
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • San Diego, CA
Replied Mar 26 2024, 11:17

@Andrew Coletta

Your Team is everything. Make sure you have the following:
Great investor-friendly agents
Multiple contractors to run bids through

If this is your first deal, don't expect it to be a "perfect brrrr"

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River Sava#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Charlotte, NC
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River Sava#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Charlotte, NC
Replied Mar 26 2024, 13:16

As others have mentioned, having a solid team is going to be key. Have you connected with an investor friendly agent in the area yet?

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Andrew Coletta
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Andrew Coletta
Replied Mar 26 2024, 18:19

Thank you both. Could definitely improve my "team." I've been mainly using Facebook groups and the MLS

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Michael Smythe
Property Manager
#2 Managing Your Property Contributor
  • Property Manager
  • Metro Detroit
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Michael Smythe
Property Manager
#2 Managing Your Property Contributor
  • Property Manager
  • Metro Detroit
Replied Mar 27 2024, 05:27

@Andrew Coletta you're going to have to find fixer-uppers to BRRRR.

If you look on the MLS/Zillow, you'll need to search for key words.

Start networking with wholesalers, just do NOT trust them. Verify everything they send you.

If you are on Facebook, start consistently posting what you're looking for.

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Jacopo Iasiello#5 Market Trends & Data Contributor
  • Investor
  • Miami Beach, FL
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Jacopo Iasiello#5 Market Trends & Data Contributor
  • Investor
  • Miami Beach, FL
Replied Mar 27 2024, 07:46

Hi Andrew don't expect a perfection first step is to study carefully everything. 

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Kenneth Jenkins
Property Manager
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Kenneth Jenkins
Property Manager
Replied Apr 3 2024, 13:31

@Andrew Coletta there is a monthly meeting at Shield's in Southfield that always has a dozen wholesale deals or so on the block.  I recommend that one.  BP is great for research too, but connections on the FB groups are better for finding active deals.  I'd be happy to give you more information as I'm local to the area.  

If you'd like to connect offline send me a DM.