How to get started?

Question

Hello, I am looking into brrrr method and think it would be a great fit for me. I am able to do majority of the work involved and have been in trades for over ten years. My question is where do I start with funding and how would I find investors if needed? I would greatly appreciate your time and knowledge.

River Sava · Answer

Hey Anothony -

Are you new to investing / do you have previous reno experience? A lot of rehab lenders will account previous reno expereince when it comes to terms. Also, have you looked into DSCR loans for the refinacne portion? If not, I have included an article below that sheds light.

Good luck, and happy to connect.

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Jaycee Greene · Answer

Hey @Anthony Kolbusz, welcome to the BP Forum! What type of properties are you looking to acquire, SF, 2-4 MF, or 5+ MF? And what is your price point, and it sounds as if you're OK with slight to moderate rehab, is that correct? And what part of Detroit are you interested in?

Michael Smythe · Answer

@Anthony Kolbusz how much do YOU have to invest?

There are some DSR Rehab lenders that may lend based on ARV.

Otherwise, you'll need to raise funds from family & friends.

Jake Baker · Answer

@Anthony Kolbusz

BRRRR method is a fantastic strategy, especially with your trade experience. Rehab cost overrun is where most BRRRR investors and flippers go wrong. You can save a lot on costs if you do many repairs yourself.

Look into hard money lenders or private lenders for the initial purchase and rehab.

Connect with wholesalers, agents specializing in investment properties, and other BRRRR investors to find deals and learn more. If you want private investors, start by asking friends, family, or colleagues in your network who may wish to a passive income opportunity. Share a clear business plan with numbers showing expected purchase, rehab costs, ARV, and rental income. Investors love seeing a solid return on investment. An experienced private money lender will want to see a track record.

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