Dazed and Confused Rookie

[Matthew Kimmons]

I am honest, funny and easy to work with. Hi my name is Matt and I live in San Diego. I want to brrrr SFH. I have zero experience and will be an out of state investor. I want to buy houses cash that need medium rehab that will still add good value. My all in budget is around 150K, so I'm looking for houses <50K. Places like Cleveland and Detroit seem a good fit for me but I'm very nervous about crime, bad neighborhoods and high rehabs. My gut is the answer is to choose neighborhoods wisely and do my due dillengence. Any ROCKSTAR property managers or agents in Detroit that have any further guidance or perspective on this fear?

[Matthew Irish-Jones]

150k all in is going to be tough to BRRRR in almost any market. Out of state BRRRing is the most difficult strategy to pull off and you almost need an entirely vertically integrated company which is very hard to find. Not many companies can pull off Realty, construction and property Managment and do it well.

if it were my money I would be looking for a B class, low risk asset, in good condition.  Let it sit for 5-10 years and consider a refinance to buy more doors.

That is a more viable alternative.  

If you are set on the BRRRR route I suggest saving another 100k