What is "BRRRR" Strategy?
The "BRRRR" strategy, also known as the Buy, Rehab, Rent, Refinance, Repeat strategy, is a popular method used by real estate investors to build wealth and generate passive income. Here are the steps involved in the brrrr strategy:
Buy: Find a distressed property that can be purchased at a discount. This may require some research and legwork to find a property that meets your investment criteria.
Rehab: Once you've purchased the property, you'll need to make any necessary repairs and renovations to bring it up to market standards. This could include things like updating the electrical and plumbing systems, replacing flooring and fixtures, or improving the curb appeal.
Rent: Once the property is in good condition, you'll need to find a tenant to rent it out. This can be done through advertising and screening potential tenants to ensure they're reliable and responsible.
Refinance: After the property is rented out and generating income, you can refinance the property to get your initial investment back. This will typically require a certain amount of equity in the property and a good credit score.
Repeat: With the money you've earned from the property and your initial investment back in your pocket, you can use the funds to repeat the process and purchase another distressed property to rehab, rent, and refinance.
Overall, the brrrr strategy can be a powerful way to build wealth and generate passive income through real estate investing, but it does require a significant amount of research, planning, and work to be successful.
If you like to explore this strategy, we will be glad to help you get started. As a realtor and investor, I will be able to locate the right property for you and get it renovated / rehabbed as well. Call us today!