BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 2 years ago on . Most recent reply
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Cashflow by Any Means Necessary
I've posted a couple of times in the forums and I have already learned a load of new and useful information. I am once again asking for the wisdom of the BP community. My question is:
if my goal is to generate cash flow in the short term, would it be effective to have a large portfolio of cash flow properties? Regardless of ROI, cash on cash, and other micro metrics used to determine deal viability. Then, reinvest and diversify down the line to create a more secure structure of cash flow after I've achieved my initial goal to general financial freedom by any means necessary.
The cash flow numbers would be ideally around 150-300 per door with roughly 20-30+ doors. Again, regardless of ROI and cash on cash, etc... Keep in mind, I wouldn't be investing if the ROI or cash on cash was atrocious, just if it were not ideal or below desirable.
I wasn't sure were exactly to post this so I picked BRRRR because it'd be the most likely method I use to obtain rentals. Any feedback would be appreciated and as always I look forward to seeing whatever collective wisdom there is to be shared.
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Quote from @John Hernandez:
@Conner Olsen
Just a question so I can understand: how would define STR vs MTR vs LTR?
STR - Furnished property rented for less than 30 consecutive days to the same guest
MTR - Furnished property rented for more than 30 consecutive days to the same guest
LTR - Unfurnished property rented for 6 months or more (typically 1 year long lease)