How To Find BRRRR Properties

Question

I am a new investor in the Memphis area. How do you find BRRRR properties, as they're not usually listed on Zillow and other such sites? Maybe this topic has already been covered in this forum; please feel free to direct me to the previous posts.

Teri Feeney Styers · Answer

Actually @Devvrat Kumar they ARE listed in Zillow, etc. You just have to learn to read the language and carefully study the photos. Search for keywords like TLC or "needs" (updating, etc.). Is it a 2/1 but the square footage is large? Maybe there is an extra bedroom or bathroom lurking there. Unfinished basement (bonus points for a walkout)? Do they say "second kitchen"? What if the primary bedroom has its own door to the patio? Can you create a mini-suite? My town is pretty ADU friendly, is that an option (requires bigger chunks of cash or lending options)? I work with mainly investor clients and pour over the MLS daily to shop these "propportunities" to my clients.

River Sava · Answer

Hey Devvrat - Connect with local agents, join local meetup groups, and try Facebook groups. Hope this helps. Let me know if you have anymore questions.

Chris Barrett · Answer

You can find BRRRR potentials on the market, but the problem is so will 300 other people and someone will end up buying it at a price that won't make any money. Networking and doing the legwork of marketing is really the only way you'll find off market deals.

Jaime Duron · Answer

Hi Devvrat Kumar! If your looking for distressed properties in which you can add value I would start going to your local REIs and start networking. Ask who may have some deals lined up or you can start driving for dollars. Contact the homeowner via postcard or door knocking. The point is to talk to as many individuals as you can, its a numbers game. Go on FB groups, or even call those numbers from the bandit signs. Wholesalers or sellers will advertise, it just depends if the numbers make sense to you. I would go as far as posting on your social member and ask..  Remember, your network is your network.  Hope it helps!

John O'Leary · Answer

Check out investorlift.com and reach out to the wholesalers in your market.

Jordan Ray · Answer

BRRRR deals are definitely not easy to find in Memphis TN because of the amount of competition in the area. Don't let that scare you, you really need an investor agent that also focuses on the BRRRR method that has all of the connections, deal flow, resources, & hustle to land good deals. Check out my page here on BiggerPockets and let me know if I can help in any way! Talk soon!

How To Find BRRRR Properties

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