Haven't done any BRRRR yet

[Marcos De la Cruz]

So I have 4 properties, none of which were BRRRRs. Would I be correct in saying that the only way to get a deal is to get something that needs rehab?

Only one of mine was "used" when purchased, the others were new. 

[Kevin Sobilo]

@Marcos De la Cruz, the second "R" in the acronym is Rehab! So, that clearly implies that you need to do rehab as part of the process. That is how you add enough value to refinance out all or at least most of your money.

However, it is possible you could build the houses yourself and consider the "Rehab" to be the construction work done.

I also suppose you could find a distressed situation such as title issues nobody wants to deal with and by handling them add value. 

In any case you need to do some kind of work to add value, usually that is physical rehab work to a distressed property.