BRRRR exit strategy or next steps?

[Justin Cummings]

Does anybody have an exit strategy for BRRRR setups?

In the 2010s we did the BRRRR thing not even knowing that the acronym existed and now we're are in a good, but complicated situation.

- The commercial mortgages (all under 5%) are going to start being paid off in the next 1-5 years. We also have a HELOC with a balance from repairs and an 8% interest only rate.
- Currently have around 15% LTV - so 85% equity.
- The payments are now 60-90%, principal, which is great, except for tax reporting purposes in 2023 showing a profit.
- 2024 almost much every possible repair imaginable was needed among the units, so the headaches and costs were compounded - now the properties are buttoned up for the most part and we'll probably show a loss for 2024 taxes.
- We don't cash flow at all because we were bullish on the BRRRRs and also did some flip rehabs using some of that equity and pocketed it years ago. 

We haven't bought or sold anything since before Covid.