Last year I went through all the (free) bigger pockets books and podcasts. I did like this method a lot. I actually think that going through the BRRRR method gives you a lot real world skills as well, which to me is quite appealing.jbc wrote: ↑Tue Jul 04, 2017 1:34 pmI just recently stumbled upon the BRRRR method of real estate investing... It seems to be a good way of quickly accumulating rental properties and it would be also inherently meet your higher-end tenant criteria since you are essentially flipping the properties. Have you thought about this, and if so, what are your thoughts?
The thing that concerns me a lot right now is this: flippers are everywhere and buying up every cheap property, I think the low-interest rates and TV shows have helped propel this. Recently lots of friends and family have talked to me about flipping and they clearly have no idea what they are talking about when I probed them about numbers and finances, which seems indicative of broader trends and is worrying. I actually don't think I could find a property in bad shape cheap enough to make this work very easily.
I think this year I am going to ease into a small duplex purchase where I can live, or like you did get a SFH and rent out rooms to friends / coworkers. I'm not going to try to do anything other than shoot for at least a 1% of purchase price monthly rent.
I'll continue to save up some cash and then see if increasing interest rates push real estate prices down. Have you had any luck on looking for properties that look like BRRRR candidates?