How do you analyze an investment property before you invest in it? Well, check out this walk-through from Bigger Pockets. It offers excellent tips on evaluating a property in order to sell (or rent) it for top dollar.
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Whether you’re just starting to flip houses or you’ve become an old pro, it never hurts to read about other people’s experiences and learn about tricks of the trade.
We’ve all seen those “reality” shows on TV, where they showcase a house flipper who makes a ton of mistakes, yet somehow still manages to turn a profit. It makes for nice TV, but it certainly isn’t part of any reality I’ve ever experienced.
Check out this post from Mindy Jensen on Bigger Pockets. She offers 11 expert tips on flipping homes, from beginning to end.
BRRRR is great, but did you know there are 2 key pillars of BRRRR that most investors don’t know about? Whether you’re just starting out with real estate investing, or you’re an ol’ pro, you should consider taking advantage of these crucial steps to ensure you don’t miss out on cash boosting opportunities.
Take a look at this video and learn about the two key pillars of the BRRRR method.
If you invest in rental properties, then you need to:
- Buy under market properties (i.e. wholesale).
- Use the Quick to Buy, Quick to Refi strategy.
These steps help you maximize your loan amount while limiting the cash you need to put into each deal. They also ensure you’re able to buy more deals and build your portfolio at a faster pace.
Through research and conversations, we discovered many investors are confused about how to get going on a deal with little to no money. So, we’ve taken a step back and tried to figure out why that is.
We found out many investors don’t understand the power of the appraisal/ARV. When you get into a long-term loan, you get to use the appraisal value/ARV. It doesn’t matter what you originally paid for the property or the amount of money you put in to fix it up. As long as you set up the loan properly, then you should be able to use the appraised value/ARV.
If you’re ready to maximize your cash flow, capture lots of free equity, and live the life you want, check out the full video.
Want more videos with more tips to maximize your cash flow? Subscribe to our new YouTube channel!
Two Key Factors to the BRRRR Method
Categories: Resources
There is always fine print on how programs like “BRRRR” work and what free equity really costs. Those details include understanding two key factors:
- Finding properties under market.
- Using the PROPER lenders to capture the equity and conserve cash.
Interested in learning more on how to do these two crucial steps? Contact us or download our free BRRR resources.
Before you decide to invest in a rental property, make sure you take the time to analyze it from start to finish. How do you do that? Well, check out this video from Bigger Pockets. It offers great tips and advice.
Ready to chat about your next deal? Give us a call!
Check out this new article from Bigger Pockets! There’s a brand new, enhanced way to look at the BRRRR strategy that could save you a lot of money.
It’s called BARRR: Buy, ADVERTISE, rehab, rent, refinance, repeat.
“Consider it a much-needed addition that has the potential to save you tax dollars, perhaps allowing you to take your spouse out to that super high-end restaurant downtown…”
Read all about the BARRRR strategy here!