BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 1 year ago,
Is a BRRRR mentorship worth it?
Trying to find my first BRRRR for almost 5 months now. There are 'OK' deals in the market but the borrowing cost now is so high, I am kinda scared because of the contractor stories I keep hearing. Every 10 stories I hear about contractors, 9 of them are negative, not just on BP but on all social media sites.
At first, I wanted to buy a primary residence 4 unit (have an FHA pre approval), then I changed my mind &decided to use the downpayment to BRRRR a house (NJ, PA, CT. NY)
I came across an FB group with a massive following that offers mentorship for $6k. They said they will help with everything - finding deals, lending, all contracts, going over deals for the first few months. They also said I will be able to offset my W2 income with BRRRR (how true is that?). I have been researching & analyzing BRRRR for almost 5 months & have run out of patience.
Is the mentorship worth it?