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Whats a BRRRR….
“Buy, Renovate, Rent, Refinance, Repeat” 😎This is a niche in Real Estate that many “House Hackers” and Landlords hang out… you do it right it can have amazing results… if your wholesaling then these people can be one of your repeat customers :-) When I bought my home 2017-2018 it was a stretch… I didn't think it was possible, I had a persistent realtor though who worked us into it on a lease purchase agreement and within 3 days of moving in we had AirB&B guests filling the empty rooms to see the eclipse…. It took 6months to full-fill on the purchase. Over the next 2 years we renovated the Garage into what became fondly referred to as “The Cottage”.and we applied a combination of STR and LTR over the years as my family began to grow we shifted away from STR and it is now 2 unit LTR. Around the beginning of the year we refinanced the property pulling out nearly 20k in equity which we were able to use towards the purchase of another property(🤫seller finance😉)… completing our first BRRRR cycle :-) 🤓I wish I had known a wholesaler to help me get a better deal 7 years ago, I didn't even know what a wholesaler did till a year ago! 💥To those with experience: What kind of person do you wish you knew when you got started? 💥To those who are new: What hurtle are you facing right now? 🥷If your brave— what are you doing (or not) that is keeping you from the progress you want this week? What are you doing about it today?💎
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