All Forum Posts by: Ignacio Linares

Hello everyone! I'm taking a trip to Columbus Ohio from Jan 11-Jan 15 to do some team building/networking. Currently looking to purchase my first SFR investment using the BRRRR method. I'd love to meet with any Property managers, contractors, lenders of any type, or potential partners! Full disclosure, I'm already working with an agent. Beer or coffee on me! Would also love any recommendations on any local REIAs. Have a good day!

@Danica Moeller Thanks for posting! I'm currently looking to do my first BRRRR out of state as well, so I'm following your post with great interest. What is your take on using a Hard money lender?

@Alexander Felice Yeaa I agree! Flips are the thing I want to do the least! Hence the only two I'm really considering are BRRRing or Buying a light rehab property. I'm glad your first deal worked out for you! Can you please let me know what are some mistakes I should look out for or any tips?

If my first deal at least breaks even I would consider it a blessing since I'd be gaining experience! I'm not adverse to making mistakes, I just want to pay my dues and learn lol. May I ask how you financed your first deal? Thanks for the input!

@Jeremy Nault I wish I could house hack lol unfortunately I live in California. I'm nervous about doing a BRRRR for my first deal, hence I'm reading David Greens book on BRRRR. If I can at least break even and learn on my first deal, then it's a deal worth doing. Thanks for input!

Hello fellow BP members!

So I'm trying to decide on a strategy for buying my first out-of-state investment property. I have no experience whatsoever in real estate investing. All I have under my belt is I've read several BP books, listened to hours of podcasts, read a ton of forums, practiced analyzing deals, and saved my money for a DP. So my question is, for my first deal should I do a flip, look for property with light repairs for buy and hold, or should I BRRRR?.

Ideally I would like to BRRRR but there are alot more components to it and alot more room for errors especially for a newbie. What attracts me to the BRRRR is the fact that I can keep my money moving and I can ideally keep repeating the process. However if I mess up or anything goes wrong(and I'm sure it will) , I can lose some if not all my money.

If I go for a rental with light repairs, I can afford to make more mistakes, BUT I'm essentially locking up all my seed money and I would have to save for a couple more years before I can buy another property.

If I flip, I can make mistakes as well but I can also keep my money moving.

I'm not adverse to making mistakes, I know that is the best way to learn. I just wish to mitigate my risks and avoid making the biggest mistakes so that my real estate investing career isn't shot down before it even takes off. Any tips or advice please?

@Michael K Gallagher wow that's good to know! I try to keep my rental numbers on the really conservative side but I will definitely keep that in mind for future analysis. In your opinion, due to the growth of Columbus, is it still possible to meet the 1% rule in Columbus? Thanks for the input! God bless

@Maurice D. Property was built in 1958 so its pretty old

@Don Gouge Yeaa all in all its not a good deal, the numbers don't make sense. Just practicing my analysis skills

@Evan Polaski The first method seems the most sound and logical so I'll be using this method to calculate my capex. I typically use rentometer, and BP rental estimates to get my rental income, but I'll definitely add Zillow into the mix. Thank you for explaining it thoroughly! You've been really helpful good sir

@Kunal Mishra cash flow is very minimal if at all seeing as how I'm missing a few things. I'd say this isn't a good deal