I purchased my first rental property in it will be 5 months ago in two days, it is a suited house and I purchased it for $260,000 and my Realtor said that I could turn around and sell it for probably $290,000 to $300,000 right away. So me and wife's first renter was a DREAM and we worked out a deal where she would pay $100 less of rent a month for 3 months and in return she painted all of the upstairs for us (crazy good deal) so we jumped on the proposal. So she lived in the top suite and painted while we lived in the bottom and painted the downstairs at the same time. Sorry I am getting off topic but my point is we gave the whole house a new coat of paint which I know just by its self adds a good amount of value to the property. So I phoned my bank and asked if I could refinance my property but she told me I cant because they only refinance at 80% of the properties appraised value. SO I am not going to lie I am not completely understanding the whole process and when I will be able to refinance to pull out some equity in my property.

Honestly to get down to my exact question is how do you properly utilize the BRRRR strategy and the theory behind the numbers and how it works?

Because I didn't buy the property with the intent of using the BRRRR strategy and it is probably apparent in the numbers but I intend to re coupe as quick as possible and my next property will be using the BRRRR strategy so I can invest quicker than I currently am because my current plan was to purchase a property a year but I want to promptly ramp it up to 2 per year for the next baby step and I am just trying to find the best strategy to ramp it up!

Thank you in advance!

Sincerely,
Amadeus Hladun

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Need BRRRR Strategy Explained in depth!

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