All Forum Posts by: Alec Strahl

Looking for an experienced real estate business coach to coach me through my first deal over here in the Tampa area. What options would you recommend?

I want to keep this simple because I’ve seen a lot of people talk a lot about this topic but haven’t heard anyone break it down simply. I am attempting to find out what the best areas are around me to start looking for rental properties, while also figuring out which ones to exclude. I currently live in the Dallas area and have done my preliminary research to identify it as an area with strong long term growth potential, growing population etc. I am now trying to narrow down the best neighborhoods/ zip codes I should be starting my search in. What financial metrics are you guys using for this? Are there any tools you have used to simplify this process? I want to know what key areas to focus on so I can then go through my due diligence process on each individual property without wasting my time looking in the wrong areas that are not good opportunities. Thank you!

@Hiten Bhagat

Here is that link for everyone https://copelandmorgan.com/100-doors-5-years-under-30-a-real-estate-success-story-with-taylor-brugna/

@Mike Dymski That is true. That is good advice. I am just trying to build out a map in my head so I feel like I have a strategy in place that motivates me because I know it will be a slow process. I also want to start with the right first move to propel me forward. I am thinking I will start with a couple traditional properties. (Putting 25% down on single or multi family) then once I build up equity/ experience in these I could start to explore more Brrrr and flip options and pull money out of those deals to use. Does that sound like a good route to go?

@Andrew Syrios The hard thing with a Brrrr strategy is from what I have seen. If you use a hard money lender on a 200k house you still need about 40k or so to put into the deal because they may only lend out 80% of the value of house and repairs and then you add on their fees and interest. So at that point it seems very similar to just going the traditional route and putting 25% down and then you have less risk. Am I missing something there?

@Neil Henderson That is a good point. It’s important to keep the end goal in mind for sure and lead with that. I think strategically I’d like to have a portfolio of properties that supports my income (maybe 25-35% of it). Providing maybe 50k a year and ultimately using it as a tool I can retire with by selling them after I’ve built up quite a bit of equity. I definitely don’t want to landlord and want to use a property management company for that. My question was more theoretical on how people are scaling the most efficiently. With Brrrr I understand the concept of using hard money or private money to scale quickly but I wanted to know if scaling to that high of a level like 100 units was possible with a more traditional route.

@Jeff Copeland thanks for sharing that info. Very helpful. I just have been curious about this mainly because with a more traditional method (5-25% down) it may take 10 years before you have enough equity through appreciation and principal pay down to have enough equity available to refinance and buy a new property so I was always wondering how people did this when they didn’t brrrr.

Question from a newbie here. How are people able to finance their ways to 100 units? Is this typically only possible with brrrr by refinancing your way after you force equity through major renovations? Is it possible for a more traditional investor (someone not using brrr) to finance their way to 100 units? Going this route putting 25% down would just seem like it would take so much income. 25% down on 100 houses costing 200k is about 5 million bucks. Are people who go this route typically using hard money or equity in their other homes?

Looking for any and all feedback. I’m trying to understand all the strategies out there people are using. I like brrrr but want to explore other strategies people are using to scale quickly.

Thank you 🙌

@David Garner

Are these all Brrrr properties you are buying or some traditional 25% down you are buying at 65% ARV

Thank you so much! When finding stuff off market how do you recommend finding a quality wholesaler? Is there any word of caution against that in terms of them actually owning the house compared to just owning the contract on the house? I have never worked with a wholesaler before.

Thanks!