Buy, rehab, rent, refinance, repeat

Just repeating what I have heard from my attorney, maybe others have had a different experience?

When I go to diversify my markets I will not, hopefully, repeat those mistakes.

The deal by itself is not good enough you must prove your worth first.If you want financing you first need to save the money to get into a deal, make a success of it and repeat.

My guess is though that BRRRR deals like this are NOT a dime a dozen, so, the more equity each deal gives you, the MORE I'm inclined to recommend: Buy/Rehab/Rent/Refi/REPEAT!

Then you re-invest the profit, including your day-job income, into the property, and repeat the process.

(repeat above + present offer)Sign the dealThat is a lot to learn.

"biggest scam on the planet... bottle of Clorox and a rag"I like using the Tilex Mold and Mildew Remover; and yes, this is just bleach but I wave the bottle in the tenants face and to them, it looks more "professional" than if I mix a combination of bleach and water in a spray bottle.When the Tilex bottle is empty I refill it with bleach and repeat the exercise with the next tenant (if needed).I also tell them to avoid the area until the spray is dried due to the "powerful" odor this product produces.Gail

When my clients want advice about a property that might be a bad deal, I ask them repeatedly if they are definitely sure they want what they are asking for?

Okay the concept works great if you use your own money to buy and fix because you can then use that same money over and over again.Because you are buying properties that have lots of room to add value So when you refi you get your whole investment back to use again and sure you will have a mortgage but if you bought right you have the asset, but your tenants are paying the mortgage and putting some money in your pocket monthly.Plus the 20% equity you created by fixing it up.If you repeat it enough you end up with lots of equity and monthly income.