BRRR-Key a thing????

[Nic S.]

Recently just came across the notion of a BRRR-key strategy. Essentially, a BRRRR-key is leveraging someone else's time, knowledge, expertise, and networks to get the BRRRR done.

Isn't this the same as turn key? I don't fully understand the difference between BRRR-Key and turn key other than I'm assuming I would keep the appreciation forced with BRRR-Key.

Is it as simple as me running point on the rehab, rent etc....

has anyone successfully used this strategy? Are there BRRR-Key companies? Sorry for the million questions lol.

[Cassi Justiz]

What I have seen with the idea of "Brrr-key" would be to have someone essentially quarterback the process. This could be the Realtor that you use for acquisition or a project manager. A Realtor would coordinate the initial sell to the investor, then hand off to a project manager who would oversee the rehab (some Realtors may do project management as well), and then a property manager would step in and get it leased. You will want a dedicated point of contact throughout the entire process. You want someone that can manage contractors, coordinate vendors, bids, etc. This is usually where a project manager is essential. They may not be doing the rehab, but they will be the one overseeing it. 

The hard part about this process is knowing your numbers. You will have to make sure all of the aspects of the project are pretty close to your budget or it could get a bit messy when it comes time to re-fi.