Darren Landerway
Is there anything wrong with this plan?
15 November 2016 | 14 replies
. - Rehab it then refi the home for close to full value and use money as down payment for another property to repeat on another good deal.random numbers-cost of home = $300,000appraised = $350,000rehab= $30,000new appraisal ~ $380,000refi = $360,000down payment for new home = $60000Now I know this sounds very similar to the B-R-R-R-R strategy and it isn't far off from it, but my understanding is that this strategy is done using lenders outside of a bank and paying off the property with cash completely.
Steve Sendldorfer
using a conventional loan vs. the BRRRR
14 November 2016 | 5 replies
It defeats the purpose.If you split your cash between multiple properties as DP's, you've spent the cash...and it's gone, with only one use.This is another example of why you're better off paying all cash for one deal, and refinancing it all out to use on the next, and repeating...
Teresa Buchanan
Which Road is Best
14 November 2016 | 7 replies
This my example-If I have 300k I could buy one $1m investment and I would then need to pay debt service and hopefully pay back my initial 300k investment in a reasonable amount of time so I could repeat the process.
Zachary Corum
New landlord looking for lease ideas
14 November 2016 | 10 replies
One feature is the "explanatory" sections where the lease simply repeats what the law says on certain issues.
James David
Starting out Wholesaling
16 November 2016 | 7 replies
Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it.Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'
Brad Fletcher
Tenant pays late every month
14 November 2016 | 17 replies
Fact is repeated late payments is always the landlords fault.
Robert Goldberg
New member from California
14 November 2016 | 6 replies
Then keep repeating learning and doing until done.
David C.
My Next Step?!
14 November 2016 | 4 replies
This is the BRRRR strategy that BP always talks about...sounds like you just need the last R: REPEAT!!!
Darius Lipsey
House hacking with VA loan
16 November 2016 | 11 replies
What's one thing you'd do differently under those circumstances and what's one thing you'd definitely repeat?