BRRRR STRATAGIES AND REFINANCING

[Isiah Ferguson]

Hey. I'm fairly new in the real estate investing. I purchased an investment turnkey duplex property for 95k cash and it appraised for 117k. It's currently being rented. I just learned about the BRRRR technique and I want too move forward with the property I have. I'm looking too refinance the property and start the BRRRR techs. Any suggestion on how to refinance ? & moving forward what type of properties I should look for ? thanks

[Lee S.]

@Isiah Ferguson tough to do a BRRRR with a turnkey, basically impossible because you are paying near or at retail. There is a ton of info here on BP regarding BP, but the basics are to be be all in with the buy and rehab at ~75% ARV, put a renter in, wait your 6 months if refinancing traditionally (there are other options that cost more) and refinance all your purchase and rehab money out.

I can't imagine the BRRRR working without the first R, which is Rehab, to force some value into the property. That isn't to say it's impossible, just extremely hard to find someone to sell you a property for 70% of value that is in perfect condition.