Need advice - Soon to be realtor and investor

[Ethan Ung]

I'm a fresh out of college 22 year old who has about 130k in savings and zero living expenses due to parents. I'm going to become a real estate agent soon and in the same stride I'll be trying out the BRRRR strategy. My main focus has been the Strawberry Mansion area due to a plethora of distressed properties that look like they need relatively high ROI rehabs; paint, new flooring, kitchen, bath, etc. but not too distressed where there is a need to do a full-gut, at least that's what I can see from the pictures on Zillow (I know it's not too reliable). The Pro Forma for the deals I saw was a purchase price of $70-80k, estimated rehab of $28k (strictly using the pictures so this could vary wildly), ARV of $200k, max DSCR loan of 132k based on a 1.20 DSCR, gross anual rent $21k, NOI $13.29k, and a net annual cash flow of $2,215. I was wondering if I could get any advice from people who've done the BRRRR and investors in the Strawberry Mansion area.

[Elealeh Fulmaran]

Great start and solid savings. For BRRRR in Strawberry Mansion, verify everything on the ground: walk comps, confirm ARV with a local investor-friendly agent, and get a GC to scope roof, foundation, plumbing, and electrical since photos lie. Keep first rehabs light, pad your budget with contingency, and aim to be all-in around three-quarters of conservative ARV so the refi works. Stress test rents with a PM, run numbers at higher rates and taxes, and avoid unpermitted work. Analyze 50+ deals fast, make offers on the few that fit your buy box, and let deal one be a proof of concept, not a grand slam.