BRRRR now or Conventional in ~2 years

[Thomas Ziemba]

Hello!

My name is Thomas Ziemba, I'm 21 years old, graduating from FAU in May, and I work in real estate as a loan officer for Total Mortgage. I'm itching to buy my first deal. With that said, I am wondering if I should wait about a year and a half, build my W-2 income (I've been working part-time while in school), and purchase my first multi-family property with a conventional loan. The other option I have is to do BRRRR, get a bridge loan, and refi into DSCR. This comes with more risk with many more moving pieces.

I'd love to get some opinions from experienced real estate investors! Please let me know your thoughts.

Thank you!!

[Alfath Ahmed]

Quote from @Thomas Ziemba:

Hello!

My name is Thomas Ziemba, I'm 21 years old, graduating from FAU in May, and I work in real estate as a loan officer for Total Mortgage. I'm itching to buy my first deal. With that said, I am wondering if I should wait about a year and a half, build my W-2 income (I've been working part-time while in school), and purchase my first multi-family property with a conventional loan. The other option I have is to do BRRRR, get a bridge loan, and refi into DSCR. This comes with more risk with many more moving pieces.

I'd love to get some opinions from experienced real estate investors! Please let me know your thoughts.

Thank you!!

 Good stuff man! It's good that you are getting started early. I bought my first investment property at 22 years old and I am 27 now. It was the best decision i ever made. 

The BRRRR strategy is great. I would look to connect with a good investor agent that can connect you with good contractors, hard-money lenders/DSCR lenders, and property managers that can lease and manage for you.

Your agent should be getting you off-market deals. Buy them at 75% ARV rule. They can also help guide you in building a Scope of Work to get a clear/better indicator of your rehab costs.

I have a map I built that I can share with you that highlights the best areas to invest. PM me and I'll share it with you.