BRRRR stands for buy, rehab, rent, refinance, repeat.
Log in to followI've read this commitment letter four times. The broker told me on the phone that I could refinance as soon as the property was leased and the work was signed off. The document sa…
BRRRR has come up in my reading for a few months now and the same disagreement between sources keeps showing up, so I want to see how this room splits. The classic version says th…
Numbers first. Bought at 145k, budgeted 55k on the rehab, actual spend landed at 73k. Most of that was a sewer lateral nobody caught and a roof that went from patch to full tear-o…
My lender wants 12 months of ownership before they'll do a cash-out refi at appraised value. Before that it's purchase price plus documented improvements, which on a place I bough…
Not an operator by trade, I do service work around this business, but I wanted one of these for myself and it's done. Small two bed, bought at 96k on a private loan from someone I…
I'd rather do the boring, dependable kind of investing, so I'm reading slowly. Two things I've read about BRRRR don't fit together. One post said the whole point is you get all yo…
Small three bed, bought at 118k, put 34k in, all in about 158k with holding. I underwrote the after-repair value at 205k off three sales within half a mile that all closed in the…
Numbers on the one I keep re-running. Purchase 142k, rehab budget 38k, closing and holding call it 9k, so all in around 189k. My comps put the after-repair value near 235k. If the…
I've been mapping vendors around this strategy because the service side is what interests me. Lead lists, skip tracing, contractor marketplaces, punch list apps, draw tracking. Al…
Small multifamily person here, every unit has taught me something and this one is teaching me about my own budget. Contractor bids on the unit turn came back higher than I want to…
Two deals in progress, both roughly 1,300 square foot three-beds in the same submarket, and I've deliberately run them differently to see what the appraiser does with it. House A…
Structure was clean on paper. I did the documents, my operating partner did the buying and the renovation, and a third party put in 85k for the rehab. To protect him we recorded a…
A friend who does renovation work wants to do a version of this together, and most of my money sits in passive deals. He'd run the buy and the rehab, I'd fund the acquisition and…
Four unit, bought at 265k with a hard money bridge, 82k of rehab across all four units, all in near 360k. Stabilized rents are 1,150 a unit, so 4,600 gross. Appraised at 455k on t…
Mid-rehab on a property I intend to keep and rent. Called my insurance agent to add it to the same policy as my other rental and she said no, a landlord policy won't cover a vacan…