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How to "Invest on Repeat" with The BRRRR Strategy
Description
The BRRRR method can be taught by no one better than David Greene, author of Buy, Rehab, Rent, Refinance, Repeat, and adorably dubbed “Sir BRRRR” by co-host Rob Abasolo. While David may be a master of BRRRR budgets, schedules, and rehabs, Rob isn’t as familiar with doing full-on buy, rehab, rent, refinance, and repeat rentals. To not only help out Rob but the BiggerPockets audience as a whole, David does a full walkthrough on his latest BRRRR.
This hillside property situated in David’s native San Francisco Bay Area has huge potential to become a cash-flowing, equity-increasing deal. David is turning this large home into multiple smaller units that will rent out to A-class tenants and should net him a six-figure equity boost simply by doing these cash-flow-first renovations.
David walks through exactly how to find BRRRR properties, telltale signs of a good (or bad) BRRRR deal, how to use the BiggerPockets BRRRR calculator, funding options for your BRRRR (from David's broker!), writing up a contractor scope of work (SOW), and how to build cash flow when there isn’t any to be found. You’ll also hear how David had a surprise run-in with the cops when walking this property. Action, excitement, and lots of equity are all coming up in this episode!
In This Episode We Cover:
The first signs that a property may be a great BRRRR deal
Using the BiggerPockets BRRRR calculator to evaluate deals and raise private capital
Financing options you have when funding (and rehabbing) a BRRRR
Contractor bids and BRRRR budgets (even if you don’t have rehab experience)
Before photos and David’s exact conversion plan to turn a single property into a cash-flowing multifamily
The huge wealth-building benefits of getting creative when finding value-add real estate
And So Much More!
Links from the Show
Biggerpockets.com Pro Upgrade Code: REPOD21
BiggerPockets Conference and Events
Building Your “Passive Income Blueprint” Using the Right Real Estate Agent w/ Johnny Hoang
Books Mentioned in the Show:
Buy, Rehab, Rent, Refinance, Repeat by David Greene
The Book on Estimating Rehab Costs by J Sco