All Forum Posts by: Brian Schmidt

Great idea, thank you Cassi for the tip! 

Hey BP,

When first starting out and searching for a market to invest in what are good things to look for? I'm considering out of state investing but am unsure where to start looking. My plan is to BRRRR 5-10 SFR properties over the next 5 years or so. I've read up a little on establishing your core 4 and to check out local unemployment rates, school districts, and such, but is there a method to picking an out of state market or just somewhere where the numbers and outlook looks good?

Thanks in advance!

Hey Andrew, you're definitely in the right spot to get advice. I am also a new investor on a similar path looking to BRRRR some single family homes and/or duplex/triplex/quads up north in the Philly area. From what I've gathered thus far at this point in your journey you'd either have to save some cash to get the first house rehab going utilizing something like an FHA loan or cash buy depending on the property, or bring in a partner to help fund the deal (could split cash flow or equity in the property). After that you can use the equity you have to start your next BRRRR whether it'd be on your own or with a partner again. Keep in mind with loans, however, a refi will be needed to get equity back for the next deal. I'm sure some more experienced investors out there will chime in and please correct me if I'm wrong.

Good to know, much simpler than I imagined. Thank you Ned for the insight!

Hey BP Fam, I'm a new investor learning the ropes. Haven't done a deal yet but want to BRRRR 5-10 properties in the next 5 years. I'm practicing anylyzing deals but am wondering, when someone says a house is in a "B" or "B-" neighborhood, how to they come to that conclusion or where do they go for that info? I imagine it relates to the quality of the area but on what metrics? Thanks in advance!

That's great Jack! Congrats on your investment. Were you working with the real estate agent prior looking for a deal or was this an agent you had a networking relationship with and they thought of you when the deal came on the radar? 

Thanks, and congrats again! 

This is some really great insight, thank you Natalie for all the advice. The house my fiance and I purchased was actually off of a flipper who was his own agent so our house is already in pretty good shape (this was long before I discovered bigger pockets and the amazing opportunities in REI). We are pretty handy people so we were thinking of rehabbing our first fixer upper on our own and using a refi to get the best rent rates we can (depends on the extent of the rehab). I couldn't agree more on the Pennsbury or Nesh school districts, just wasn't sure if SFR's were a successful thing in this area with bucks county having more home owners then renters from what I understand. Thank you again for the insight!

Anyone familiar with the Bucks County PA area? I'm looking for good towns for SFR's. I currently reside in Levittown and am familiar with Bucks County as I grew up in Newtown but am still learning about the local RE markets and am new to Rei. Levittown seems to be a flippers paradise in some respects but I'm looking to BRRRR me some deals once I get my finances set up accordingly. Any thoughts?