Real Estate Rookie 85: Stop Creating Your Own Roadblocks to Investing with Justin Munk
Coming up with capital isn’t easy when you’re just starting out. How are you supposed to get 20% down for one property, let alone multiple when trying to grow your portfolio. This was the predicament Justin Munk was in until he found out about the BRRRR strategy. When implementing the BRRRR strategy, Justin was able to use a fraction of the money he would need as a down payment to get a renovated, highly desirable rental property.
Justin invests over 1,000 miles away in Ohio and manages all his rehabs remotely. Most investors would stray away from remote rehabs, but Justin has so many “checks and balances” set up that he feels confident to do them. His rehabs have to go through an inspector, a contractor, and a leasing manager before they’re put on the market. This allows Justin to have extreme confidence that he’s rehabbing a property to get the highest rent, with the lowest headache to management.
Justin gives some valuable advice to new investors that are struggling with analysis paralysis: don’t sabotage your own deals by finding problems in every property!
Links from the Show
- Real Estate Rookie Facebook Group
- Ashley's Instagram
- Tony's Instagram
- BiggerPockets Podcast
- Brandon Turner Instagram
- BiggerPockets Agents
- BiggerPockets Podcast 212: Buying a 115-Unit Apartment Complex for No Cash Out of Pocket with Brian Murray
- BiggerPockets Podcast 126: From 0 to 400+ Units Through Value-Add Investing with Brian Murray
- Biggerpockets Forums
Check the full show notes here: https://www.biggerpockets.com/rookie85
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