BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 4 years ago on . Most recent reply
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How Can I Plan My Escape from the 9 - 5
Hi BP Community
A little bit of a background on me I have been investing for 2 years I have a duplex and I have recently just sold my flip and am in the process of buying another buy and hold with the BRRR strategy. I have a job which pays me 85K a year but It get home really late and leave super early so I hardly have time to see my kids, especially my daughter who is sleeping when I leave and heading to bed once I get home.
I purchased my first duplex in 2018 - at 310K renovated and the house was worth 450K
With this duplex my mortgage and tax is 1760 - Month and I get 2900 a month in rent.
I used that money and put it towards a house which I purchased for 320k. I was living in the house for 9 months and realized the market was hot. I have just sold the house 510K which helped me pay off debt and clear my wifes school.
I am in the process of buying another house now for 390k which closes in January I am hoping to invest 50 - 60k In renos and to hopefully BRRR.
I am trying to game plan my great escape and to be a full time investor but I am unsure how to get there. I am hoping once I finish this house I will have a clearer picture. If you have been in the same situation or a similar situation, could you please share how you made the move and any helpful tips I could use to game plan my GREAT ESCAPE haha
Thanks Everyone !