Looking to get started investing but don’t have millions of dollars and notice there’s not a lot of opportunity in your market? Well, this is the episode for you! Today’s guest is a long-distance investor who uses the BRRRR strategy to buy fixer-upper properties in other states, then refinances to use the money to buy more deals!

Alex Felice shares his valuable insights on his criteria for analyzing deals, how he builds his out of state team, and why he’ll never look at a property in person! You won’t want to miss Alex’s strategies for overcoming the fear of investing long distance, as well as his plan for living broke on purpose and how he combines long-distance investing with the BRRRR method to build a portfolio that scales! Alex is a high-energy individual who is passionate about taking action and building the future he wants. Don’t miss your chance to learn from what he’s accomplished, and start making progress building your own portfolio now!

In This Episode We Cover:

Alexander’s back story and how he got into real estate
Why live-in flip?
His strategy of being broke on purpose
How he learned about the BRRRR strategy
Why he thinks being close to your property is a crutch
The importance of “skills that scale”: networking and education
How to complete a BRRRR in 8 weeks
What delayed financing is
How to know what a good deal looks like
What “unicorn paralysis” is and how to avoid it
His strategy in his own market
How to think like an underwriter
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Landlord Forms
Zillow
Trulia
How I Analyzed a Deal in 5 Minutes (& Bought it Before Anyone Else Could) (blog)
The Secret to Unlocking Bank Financing
The highest return on investment you can make – Best Investment Books(blog)

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
Principles: Life and Work by Ray Dalio
Sapiens: A Brief History of Humankind by Yuval Noah Harari
Thinking, Fast and Slow by Daniel Khaneman
Science in the Soul by Richard Dawkins
The Demon Haunted World by Carl Sagan
Factfulness by Hans Rosling

Fire Round Questions

Tweetable Topics:

“Live life broke and save a bunch of money.” (Tweet This!)
“Being close to your property is a hindrance.” (Tweet This!)
“The only point of the first deal is to get the second deal.” (Tweet This!)
“As fast as you can, as slow as you need to, but don’t set your goals too small.” (Tweet This!)
“You want to convince people that are better than you to deal with you.” (Tweet This!)

Connect with Alexander

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301: The Incredible Power of Long-Distance BRRRR Investing with Alex Felice 01:15:15

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301: The Incredible Power of Long-Distance BRRRR Investing with Alex Felice