Hello everyone! My husband and I are about to invest in our first property. We have decided our price point, square footage, and the method we would like to utilize to obtain the property. We want to use the brrrr method and then a cash out refi 60% to recoup the money for our investors and leave a little bit of equity for us. My question is what factors should we consider when narrowing down a few zip codes to get started? Also, I am open to other ideas regarding our exit stragety. We are located in Fort Worth and we feel comfortable within a 30 miles radius for our first property. Thanks for your help!
Hi Nicki - I am also a first time investor so wanted to congratulate you on this venture! We have been narrowing zip codes down based on best schools and being closer to hospitals (values should hold and appreciate).
I'm curious to know what other terms you've put in for paying your investors back? As in, principal plus additional percentage or an agreed upon dollar amount?
@Tina Yuan Thank you for responding with your criteria. With our investors we have negotiated a percentage amount for them to be paid back.