Anyone have Experience doing a BRRRR out of state

[Dylan Backer]

Hi everyone! This is my first time posting here.

I'm 20 years old and based in Southern California. Earlier this year, I purchased my first rental property a turnkey Section 8 rental in Memphis, TN. So far, it's been a great experience and cash flows about $450 per month after property management, maintenance reserves, and other expenses.

For my next deal, I'm interested in pursuing a BRRRR strategy to force appreciation, recycle my capital, and continue growing my portfolio. My current property management company also offers construction management services, and I have a call scheduled with them next week to learn more about how that process works.

I'm curious if anyone here has experience managing a rehab or renovation from across the country. What were the biggest challenges, and what systems or people did you have in place to make it successful?

I'm also trying to better understand the financing side. What loan structures have you used for BRRRR projects, especially as an out-of-state investor? Have you found hard money, DSCR rehab loans, local bank financing, or another option to work best?

I'd love to hear any advice or lessons learned. Thanks in advance!

[Emanuele Mayer]

Congrats on your first rental! Cash flowing $450 after all expenses is a great start, especially at 20. Just out of curiosity, what made you choose Memphis over other markets? It sounds like you’ve put together a solid plan. Best of luck with your first BRRRR!