All Forum Posts by: John Mathew

"No investment comes without risk," says Baldwin. The BRRRR method is not for everyone — it's best for those who have solid real estate knowledge and experience, and can accurately gauge market values, renovation costs and more. A miscalculation of price or budget, or failure to secure a renter at the right time and price, can result in big monetary losses. A BRRRR investor must also have enough time to devote to the process. Looking for properties, renovating them and acting as a landlord (potentially for multiple units) is a big time commitment.

Before you decide to jump into BRRRR real estate investing, research thoroughly and talk to other people who have done it. Baldwin even suggests finding a mentor, if you can. The method can be very lucrative, but you have to know what you are doing — novice investors may be in over their heads. Hope this helps you! Best of luck in your career!

Hello Suzanne! I’ve listed five essential people you should seek advice from before making a property investment, hope this helps you. :)

 Financial Advisor

Your financial advisor is the first person you should go to if you’re in the early stages of a possible property investment. Before you start looking for properties, it’s important to know if you can afford it or not, given your financial status.

Building Inspector

Once you and your buyer’s agent have found a suitable property for your needs, it’s wise to check it out during an open house, with a building inspector by your side.

Mortgage Broker

Before you start checking out properties, it is wise to get real estate advice from a lender or mortgage broker and see if you can get pre-approved for a property investment loan. Alternatively, you can see a broker first before applying for a pre-approval if you’re not sure you’re financially ready to invest.

Buyer’s Agent

Finding and buying properties can be complex and stressful—which is why asking a buyer agent for real estate investment advice can make all the difference.

Lawyer

Getting real estate investment from a lawyer can help you maximize your profits and minimize your risks.

Good day! I would really recommend house hacking.  House hacking can be a good way to get started in real estate investing without having to purchase a rental property requiring a big down payment. By using an extra bedroom or units in a multifamily property to rent, house hacking can turn a home that's already owned into a property that generates rental income. Hope this helps!

Wow! That sounds great Anthony, you are in the right track. With what you have said. I remembered a quote by Michael Ferrara and it goes like this "Success in real estate starts when you believe you are worthy of it.” Best of luck in your real estate career! Would love to connect with you soon. 

You can try kvCORE . It is a complete real estate platform built for modern brokerage  and teams looking to automate and grow their business. With its 20+ channels to organically grow agent pipeline, kvCORE is purpose-built to drive more high-value conversations for agents and their clients than any other platform on the market today. If you are looking to save 35% on tech costs, enhance brand recognition, and guarantee agent success, then kvCORE is the solution for your business

Hello there! You'll want to be sure the person is bonded, insured, and that the company only does inspections rather than repairs and renovations. This will help to ensure that they do not try to coerce you into making costly repairs for their benefit.

BRRR investing, if done well you can pull most or all of your original capital back out for the next deal.

BRRR is still actually quite effective right now. I do think that there's potential for consistent rental income and cash flow with a good tenant and local property manager. It's also an autopilot investing strategy to grow a rental property portfolio.

Hey there Colby! Nice move actually.  House hacking is a great real estate investing strategy if you’re looking to take action immediately. Not only will you have a great pulse on your property, but you’ll also get a feel for everything it takes to expand your real estate portfolio down the line. After all, you won’t be able to occupy every real estate investment as a primary residence and get to learn through taking action. Hope this helps! 

Hey Ray! Hope you can consider these to determine a good deal. 

Consider Recently Sold Properties
Check Out Comparable Properties on the Market
Look at Unsold Comparables
Learn About Market Conditions, Appreciation
Be Wary of for-Sale-by-Owner Properties
Explore the Expected Appreciation
Ask Yourself: Does the Price Feel Fair
Get an Appraisal and an Inspection