BRRR Exit strategy....

[Emil Heintzinger]

So my dad and I each have rentals. We have decided to combine our efforts and, well crush it! Problem is he is stuck on appreciation of the properties. My tried an true method is buy a place, be all in at around $90000, rent it out around $1300. Of course refinance at around $130000. That pays for the down payment and rehab expenses. It cash flows $400 or so a month. That to me is the business. Appreciation is never gaurenteed. He wants to avoid neighborhoods that MIGHT not appreciate. These are not terrible areas, just not total winners. I look at appreciation as icing on the cake. Thoughts?