Updated almost 5 years ago on . Most recent reply
OOS Investing/BRRRR Method - Researching Area
We have been investing locally in the Boston, MA market over the past 6 years. Primarily fix and flips, condo conversations and one wholesale. After 6 years of active investing we have no income properties. We have been focused so much on the active part of the business we lost sight of our long term goal, which is passive income.
With all that being said we are looking to invest out of state using the BRRRR method. We are looking to identify the area that meets our goals, build a team on the ground and be ready to purchase properties in March of 2021.
Any areas that you could recommend would be extremely helpful. Also looking to connect with investors/agents/property managers/contractors in those areas. We are looking to establish long term mutually beneficial relationships. Thanks for any insight. Happy and Safe New Year to all.
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
@Robert Verdi Good for you for realizing you were off track in your business plan! Time to fix that. I have an ebook on my site that will help you get started OOS. Your first steps though will be:
1. Go back and firm up your financial numbers and investing roadmap
2. Identify an investment strategy that will help you achieve your investing goals. If you want passive income, then buy and hold, BRRRR, turnkey, or syndications fit that best.
3. Find a market to invest in (I have a whole process on how to do this).
4. Put your team together
5. Build your deal funnel!
6. Then off to the races with analyzing, offering, closing, managing, repeating!
Reach out if you have Q's.