BRRRR

[Jeri Clark]

Hello everyone!

My husband is a non-believer in the BRRRR method and in leveraging in general. He says that this won't work in the areas we invest in which are the 32218 and 32226 zip codes in Jacksonville, FL.

So I'm putting this out there to my fellow Jacksonville, FL investors.  Can anyone give me some real-life examples of how this can work here so that I can convince him?

[Orlando Spencer]

Originally posted by @Jeri Clark:

Hello everyone!

My husband is a non-believer in the BRRRR method and in leveraging in general. He says that this won't work in the areas we invest in which are the 32218 and 32226 zip codes in Jacksonville, FL.

So I'm putting this out there to my fellow Jacksonville, FL investors.  Can anyone give me some real-life examples of how this can work here so that I can convince him?

Jeri,

I've purchased 6 properties in 32218 in 18-months with one under renovation and another under contract to close mid-Feb. The disagreement between you and your husband is one that I have in my mind almost daily because you're both right!

Two 32218 examples, 1st - $30k purchase price, $28K rehab with $1400 rent! Sure I can sell it for $85K but why in the world would I do something like that with this cash-on-cash return, lol? 

Now the 2nd example is in the same neighborhood but tougher and may make you think a little... I purchased a 3/1 for $18k and budgeting for a $20k rehab (60% complete) with an ARV of $60K. I consider cashout refi all the time with an $875 rent but my intent was to resell it to earn the quick $20K and find another house to flip..... BUT if I find favorable financing, keeping that sucker!

Honesty, I'd lean towards the FLIP because we are truly in a seller's market right now in Jax. On the other hand, if financing is an easy ordeal for the two of you then YOU are right and he should listen to wifey ;-) 

That's me being transparent and even then you can see the argument I have within, right?

Was this helpful for anyone out there?