All Forum Posts by: Roland Brown

Good morning,

I have been planning and preparing to build real estate income and am very close to begining.  As I have been pulling together capital to get started, I have also been researching markets, podcast listening and reading every book I can get my hands on to get a foundational education.

In my mind, with my capital limitations to get started I love the BRRRR strategy, I think I can make it through the Buy, Rehab, Rent, once before chasing loans if I stay in certain markets. One of my main concerns is that I have a full time job which takes up all my available time and brain most days.

So then the other options seems to be Turnkey but my big concern with this plan is that I will deploy all my capital and then need to slowly build up again using the cashflow before I will be able and ready to reinvest...

As I am writing this out it sounds very impatient but I am eager to break from the coporate world in a reasonable 5  to 7 years and I'd like to bridge into real estate to do so.

I am looking for feed back to know what other people have done considering Tunrkey Vs BRRRR?

-and what they would do differetly if they could?

@Vivek Khoche, thanks for your word of warning, I’m not sure what you are showing in the screen shot. I do understand The need to mean spend time networking or studying the market. But at some point it’s just spending time if you don’t  start speaking with people that have something to sell. 

I’m interested I learning about buying in bulk 5-10 and scale and skipping the turkey, I’ve been looking at turnkey but am afraid I’d spend all my capital and be stuck building up capital again.

oh, i clearly missed the update in my scrolling. Glad to hear it started out well. 

I agree with you@Jay Hinrichs that short term view is a quick way to sink a boat. I did that on my last business, lost my shirt and learned the hard lesson. Fixed now it’s time to start again. 

Good news every mistake is a chance to learn, bad news is some lessons last longer than others. 

Tyler Jahnke any update on this project? I’ll be ready to in 3 months for my first set of purchases. I’d like to see how it’s been since you posted here.

David Zheng Very cool to hear your path, I'm curious with your W2 job, do you self manage or have a property manager?

In mobile homes how would I know what market rents are?

I am really looking for the low end of complications. Right now I'm working 12 hour days In my corporate job trying to build up capital. I assume this will be my life for the next several years as I work to build my portfolio. Any suggestions on direction to start? The reality that I need to build over time is in my plan I just want to start right.

Thanks good to know.

My credit is very strong I never missed any payments. Financial my day job could cover another mortgage if I had no renters for a period. But you do bring up one of the question I have, should I wait until I have 6 months cash reserve? I feel like I could wait forever trying to plan for everything.