BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 1 year ago, 04/04/2023
How to do a rehab for 8-12k per door
My wife and I have been able to do complete rehabs for under 12k per door. The key to our success is to not view the property as our own home . We do not go above and beyond and keep expenses to the minimum. We buy everything 2nd hand. We’ll purchase kitchen cabinets off Facebook market place, water heaters, appliances, and etc. Our building materials we buy from retail discount stores that purchase Home Depot/lowes returns by the trailer loads. Most items have small imperfections that a home owner wouldn’t want but for a rental property they are perfect! An exterior door that has a dent or scratch for 100$ vs 500-1000+, a bathroom vanity that has a crack on the backside for 50$ vs 500$, and so on. We’ve been able to purchase 32 doors in 2 years with no private money following the brrrrr method and doing everything ourselves. I am now a licensed insured home inspector/contractor that can redo plumbing to wire up electrical panels and etc and currently becoming hvac certified. YouTube is a powerful resource to learn everything.