All Forum Posts by: Eric Dekker

Thanks for all your feedback. Regarding my living situation, I currently rent but it isn't very expensive. I didn't set out to do a BRRRR on my first property, it just sort of ending up becoming one. The project was not "super successful" as I knowingly ran the risk of outbuilding the neighborhood, but I got lucky with both rents and property values rising during the time period of the build. As it stands right now I am cash flowing pretty strongly for a single family but I left about $15-$20k in the deal.

I like the idea of the BRRRR as it seems to be the most efficient way to invest in real estate as you can theoretically keep recycling the same money, where-as traditional, % down, purchases lock up your money in which case you will eventually run out of money to invest with if you follow the math to it's logical conclusion. My biggest problem was the time it took to take the property from burn-down shell to operational property was entirely too long, and I had too much of my own effort/energy into the project. With the same capital, I could have probably bought 4-5 homes in the same time period with much less effort if I had just purchased using traditional lending and bought projects that required much less work to get up and running.

I just feel at this point that I am now "in the game" and I did learn a ton along the way, but I want my next move to be more calculated while also making a "step-up" rather than making a lateral move or "step-down".

Anyway, I appreciate everybody's feedback.

Hello, I am a new real estate investor, and new to BiggerPockets. I recently completed my 1st real estate investment project (a total gut/rehab - single family) and have a tenant placed. I covered the cost of the repairs out of pocket and did a cash-out refi after the project was completed. I have working capital for my next project, but I am unsure as to what my next move should be. I have a couple of options with pros and cons to each:

1. Attempt to BRRRR another single family (would prefer to not get another single family, but it may be all I can afford if I want to BRRRR it)

2. Purchase a 4-plex and rent hack (this has been a long time idea of mine to do)

3. Purchase a short term rental/AirBnB (may be the most profitable option, but unsure how a recession might affect the vacation rental market)

4. Sit out the market for 6-12 months since the market is uncertain and a downturn might be coming shortly (may be able to do more with the money I have if I wait it out)

My goal is to use the capital I have in the most efficient manner possible, but I am just not sure where I should be focusing my efforts and I am open to input from more experienced investors. I have kept this short for the sake of not losing people's attention but I can elaborate more if members have any questions. Any feedback the community can provide would be greatly appreciated!