Updated over 3 years ago on . Most recent reply
Building a BRRRR Pipeline
Hi all,
In the process of building a better pipeline for finding more BRRRR deals. Just want to see what more experienced members are doing. Looking at 3-4 unit multifamily properties. Plan is to build a solid pipeline during this era of market volatility. Here's what I have experimented with:
1. Using Reonomy to generate an excel sheet of all 3-4 unit owners and hire a cold caller to inquire about their properties - With current market conditions I have found it is extremely hard to find people to sell. Plus, I want distressed properties. We were cold calling all of these properties and a lot of them were turnkey. Want to shift focus to only distressed properties
Here's what I'm thinking I will implement:
1. Reonomy has a feature to see multifamilies that are in the foreclosure process. There have not been many recently but I'm starting to see an increase. Going to monitor these and cold call the owners for these to see what we can make happen
2. Getting on wholesaler lists that will email me properties. Just need to find good wholesalers. Pretty unfamiliar with this or how to find them so if anyone has any recommendations it would be much appreciated
3. Looking at auction websites. Also would like some information on this if anyone has experience. I've been on a few but am unsure if they are worth my time
4. Going on county websites and looking at tax liens. Not sure how much I like this. Seems like it's challenging to scale up doing this.
The goal is to eventually automate this entire pipeline either through the use of employees/software.
As you can tell, my head is pretty all over the place with this so just looking for suggestions or examples of what others are doing to find distressed BRRRR-able properties.