5d • General discussion
KNOW IT THURSDAY'S: BRRRR
You might hear investors say they're doing a BRRRR.
It stands for:
Buy RIGHT
Rehab or (add Value)
Rent
Refinance
Repeat
Here's the idea:
Buy a property that needs work.
Fix it up
Rent it out based on the highest and best case use of the property ( sec8, STR etc.)
Refinance based on the property's new value, so you can get your money back.
Then potentially use some of the capital you've recovered to buy another property.
Then do it again.
Sounds too good to be true ..It can be—but the numbers have to work.
The renovation cost, new value, rent, financing and other expenses all matter.
𝗕𝗥𝗥𝗥𝗥 𝗶𝘀𝗻'𝘁 𝗮 𝗺𝗮𝗴𝗶𝗰 𝘁𝗿𝗶𝗰𝗸. 𝗜𝘁'𝘀 𝗮 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆.
Learn the language. Understand the numbers. Make better real estate decisions.
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KNOW IT THURSDAY'S: BRRRR
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