All Forum Posts by: Joseph Bui

I know people that have had great BRRRR success in Detroit and Memphis, including myself. I've seen investors get over 100% of their money back at times. For me, I usually get about 90% of my money back. The key is finding the right area/market and having a solid rehab plan that doesn't go too far over budget. I don't have any experience in Augusta, but if you are interested in Detroit or Memphis, happy to connect and knowledge share.

For me, real estate is never truly passive, even with good a Property Managers. With a solid PM, its about 85% passive. As for what I look for, I try to find a market that has appreciated well recently and has solid rent to price ratio. For me, those markets are Memphis and Detroit (and a couple others). Then I find or put together a team to help me invest remotely (sourcing, rehab and property manager). My target ROI from cash flow is 10% or higher (after factoring in maintenance, capex, vacancy) and I usually aim for a rent to price ratio of 1% or better. I hold a 10 property portfolio now and would be happy to connect and knowledge share.

I've worked with many investors that take this approach. My biggest rule it to pay off the heloc as soon as possible because the rate is variable and its much safer to be in a locked in mortgage.

Hi Marembo, glad to see you join the community. I have a 10 property portfolio across Memphis and Detroit. I've been using the BRRRR method more recently with some success. Happy to connect and knowledge share if you are interested.

Hi Chris, I have a portfolio of 10 properties across Detroit and Memphis. There are multiple paths to forming a team from finding each part on your own to working with a turnkey company. I've done various methods and would be happy to connect and knowledge share if you are interested.

Hi Jadan, I'm based out of the seattle area so I'm in a similar situation. I mostly invest in midwest markets. I have a portfolio of 10 properties across Memphis and Detroit and would be happy to connect and knowledge share if you are interested.

Hi Nicholas, I'm based in the Seattle area but have been investing out of state for a past few years. I have a portfolio of 10 properties across Memphis and Detroit now and would be happy to help however I can. Would love to connect and knowledge share.

Hi Kent, similar to you, I live in a HCOL and decided to do most of my investing in out of state markets. I started in late 2020 and now have a 10 property portfolio across Memphis and Detroit. Overall, I think these are solid markets to invest in with many Pros, but Cons as well (of course).Happy to connect and knowledge if you are interested.

It will depend on your budget and if you are willing to take hard money. I'm just about to sell my first flip which I put in about 130k (all in) and its under contract for 200k (minus some seller concessions). This is in Detroit, in the Morningside neighborhood. It will all be market dependent.

Boston is a tough market to find cash flow and good rent to price ratios. Have you considered other markets. I have a 10 property portfolio across Memphis and Detroit and they average 10% plus COC.