All Forum Posts by: Marissa Wurms

Hi all. Newbie here looking to do my first BRRRR long-distance and stuck in the Analysis Paralysis stage. I've done all kinds of research as to which states are landlord friendly law-wise, which are seen as "investor friendly"...made all kinds of spreadsheets...but I'm still stuck and figured, why not turn to the BP forums and see if I can't find some advice from those wiser and more experienced than me!

I would like to be able to BRRRR cash-flowing properties and be "all-in" cash at $75,000 or below. Anyone have any suggestions of markets to look into a bit deeper?

Welcome, Matthew. I'm also just starting out and I'm in the North Jersey area. Feel free to connect so we can support each other through this process!

Thanks for the welcome and advice. As much as I'd prefer to keep my rehabs within driving distance, I want to BRRRR and be all in with cash under 70k, which just doesn't seem possible in the Northeast!

 Hi Alex. Thanks for the outreach! I have worked for Carnival Corporation for the past 7 years. It's been an amazing experience all around - so many positive things to say.

I am looking to BRRRR properties and be all in under 70k, so I'm not sure if that is possible ANYWHERE in the Northeast, which is why I believe I may have to do the long distance thing. I'd much prefer to stay within driving distance to manage the rehab, etc., but if it's not possible I may have no choice but to find another market in the South or Midwest...

Marissa

@Bill Hampton Thanks for the warm welcome and all the advice. I look forward to diving in head-first!

@Daniel Dawson I have indeed considered out-of-state and will likely need to go that route to have the type of success I desire, but of course it's very daunting as a newbie to do this at all, let alone out of state!

Hello everyone!

My name is Marissa and I am from the North NJ/NYC Metro area. I am 31 years old and have always wanted to get into REI, but due to my job I never really found a "right time." For the past 7 years I have worked in the cruise industry as a shipboard hotel officer. This job has afforded me the opportunity to save a good chunk of cash (though I'll admit I have not saved as much as I could because I have enjoyed traveling so much [no regrets!].) As my industry is currently shut down, I decided now was the time to really get serious in getting the ball rolling.

I have been listening to the BP podcast and BP Rookie podcast as much as possible (probably about 25 episodes so far), attending the weekly BP webinars, and am reading up a storm. So far I have read David Greene's BRRRR book and his Long Distance Investing book.

I am primarily interested in building a buy and hold portfolio that produces enough passive income to quit my job. In saying that, I should clarify that I don't actually want to quit my job as I enjoy working and especially my line of work, but that I want to make the amount of money that equates to that feeling of "freedom" where I am getting up for work every day because I WANT to and not because I HAVE to. I also want to retire by the age of 50, if not earlier.

I am just starting out but feel I am most interested in the BRRRR strategy. However, due to my home market not being the most conducive to this strategy, I will probably need to pick another market and of course BRRRRing out of state is a very intimidating task. Moreover, no one in my family or close circle has done anything like this, and I'm getting a lot of skepticism from them, particularly in regard to investing out of state being a "bad idea."

If anyone has done this on their first deal and has any advice, I'd appreciate it. I'd also love to connect with anyone who shares the same goals, strategies, challenges, etc.

Thanks!

Marissa

Hi Christian!

I am also new to BP and from the North Jersey/NYC Metro area (Bergen County, specifically) and just starting out in the "education" phase of REI. It would be great to connect through this process of discovery and hopefully success in investing!

Cheers,

Marissa