The “Buy, Rehab, Rent, Refinance, Repeat” (BRRRR) Method Made Simple | BP Podcast 327
It’s here-THE book on BRRRR! And who better to write it than the leading authority on this strategy: our co-host David Greene.
In this episode, he breaks down exactly how to “Buy, Rehab, Rent, Refinance, and Repeat” your way to wealth.
David reveals how BRRRR allows him to force equity, leverage the talents of others, and recycle his capital so he didn’t have to keep working 100-hour weeks as a police officer.
You’ll learn about the velocity of money, the “core four” players every BRRRR investor needs on his or her team, and the way to eliminate fear by taking a cold, hard look at the numbers.
David also explains how this strategy can reduce capital expenditures and how to come to the bargaining table with a cash offer that puts you in the driver’s seat.
He also addresses some common objections, including the notion that it’s difficult to influence the appraised value of your rehabbed property. Plus, you won’t want to miss the “Deal Deep Dive” where David goes into detail about one of his recent real-life BRRRR deals.
Whether you’re brand new to this method of investing or are looking to fine-tune your BRRRR skills, this episode will provide you with a ton of value. Still, we only cover part of what’s in David’s book, so check it out on the BiggerPockets Bookstore.
Check the full show notes here: www.biggerpockets.com/blog/biggerpockets-podcast-327-buy-rehab-rent-refinance-repeat-method-david-greene/
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Another great video! Keep up the good work!
Is this doable with $10,000?
“Tore up from the floor up” That’s hood lingo ... 🤦🏾♂️ lol give credit where credit is due !! Love the videos ✊🏿
I bought this book!!! Easy read !! And I bought it before I realized that I had subscribe to this page 😆 the universe is working for me !!
When your on topic the video is so good, when you go off topic it's always so cringy I wunna bring you emotional harm
Everywhere I have seen, houses under $100k are death-trap dozer bait. The lower the price, the less you actually get per dollar. That seems to be true wherever there are good rental markets. Best values are around $350k with .5% rental. What am I missing?
If you brrrr a buy and refinance, you still have to pay the loan back (refi) from the rent you’re collecting. The margin of profit is not as high in the beginning or am I missing something
You guys comedy is cringe and distracting from the info your try to get across. Stop it
Fixed up in the Mix Up....Guys it rhymes and you'll remember it!
So to BRRRR properly do you have to pay for the house 100% in cash and 100% pay cash for rehab? Can you do 20% down payment and 100% cash rehab. Then pull out your down payment and and rehab when you refinance.
So the bank loaning to you the asset is used as security or what?
This is f*** gold right here I swear I’m on y’all ass right now
I’ve been watching a lot of real estate videos because I want to start investing this year. This is by far the best one. Thank you so so much 🙏🏼
If 1:04:00 to around 1:09:00 isn't motivational and inspirational af then you're watching the wrong podcast
Fixed up from the bricks up
Lots of black people doing this have their homes appraise way under their projected ARV because of the jealous gate keepers. Luckily you still make good money with this strategy somehow. Don't ever let racism stop you. Go to black owned banks! No excuses.
When you guys talk about comp's, what are you referring to? What does comp mean?
But what happens to the "Refinance" R in BRRR when you start with a loan on 3% then interest rates go up to 5% (for example). Doesn't that make a refinance impossible?
Shame on you, I just watched the Randy video and am emotionally shattered.
GREEEN you have a magic voice!
combatives. bruce lee quotes. ROI. this podcast has it all.
Please give us cautionary stories about BRRRRs that went bad. We need to know what to watch out for.
Do you have to have good credit to brrrr
Hit a wall with 9 doors in 3 years. Then BRRRRR'ed my way to 17 in 1 month. Can't say it doesn't work.
Does this change if you have access to a VA loan?
New to the Channel and excited to change my life.
I've tried your rental calculator 4 times and all it does is go on saving and doesn’t show information wondering what I'm doing wrong
Fixed up from the bricks up. Theres your rhyme
So if you screw up a flip Just say you intentionally BRRR INVESTED Just kidding guys
Thanks Brandon: BRRRR is the game changer I have done 5 BRRRR's so far working on BRRRRING 17unit building now. this wouldn't be possible without bigger pockets🙏🙏
So when the bank gives you the refinance check is that another loan you have to pay for?
Did he just take credit for "tore up from the floor up?!" Good vid nonetheless.
You are not closing in a sunroom, running ac, electrical, and plumbing for 4k.
I love monopoly. ;)
very informative
Buy the house with cash... Not realistic but thanks anyways.
Hello everyone Money Mitch here, if you could kindly check out my premier video of my investing channel. I will be covering dividend growth in details. I appreciate any support. Happy holidays!
Tore up from the floor up is VERY old urban slang
The main host of the podcast is rolling on something
Question: does the brrrr strategy still work if I live in the property as the renter, and then I refinance? Also, how long do I have to wait until I can refinance the property on average?
Cut to the chase.
Why would all those people do all that research work for you for free? What's in it for them?
Learn from masters - they dont' share their secrets for free ;)
I’m in the military, so I’m constantly moving. I’ve started buying houses whenever I move, then I rent them out. I buy, move in, Reno/Update, move out and repeat.... is this a solid idea? Or am I doing it the “expensive way?”
dam lucky im a plumber
brrrravo sir !!
The real question is where are you finding these houses at $30-60k
@Kenneth Petersen ok thanks
@blackl1steddrums pretty much anyone who is anyone in the financial/investment world refers to the period of time where the American dollar bottoms out due to over printing of money and hyper inflation as “the reset”.
@Lyric Spencer Books Im just asking what you meant you dumb-asshole, how am I to know what your little code-words mean? f off
@blackl1steddrums LMAOOOOO! You have no clue what's going on in the world? Corona? The next housing crisis? It's going to be the great reset!
@Michael Barido ..would you mind elaborating on what you mean by "reset"?
Totally get the multiplier effect of this, but stop saying you’re getting your money out of the house and you have free cash flow. You Don’t. You have a loan on the house.
A police officer that likes BLACK?!
I feel this so hard... Talking about being a police officer and working all the overtime to pay for real estate, currently me 😂
Could I do this with the equity in my primary residence (~120k)?
This is the Genesis of real estate investing for individuals.
David Greene is one smart man
When going to the bank to get pre-approved, should It be for a conventional loan or tell them it’s to refinance a Brrrr Loan To Value?
Hi Brandon and David l. After the book and all these podcast you guys skip a very important part. That is if you are not able to refinance at all. I own 2 rentals primary home with no mortgage and doing three flips at same time. I am not able to get loan because of the debt to income ratios. My flips even if it’s purchased with cash the taxes on each of them are over 8,000 and that kills my debt to income ratio. My other two rentals I could let get a mortgage. So I have to save all the money for my third rental through flip profit. It’s frustrating. Is there a way I can brrrr?
I'm really not understanding how the lender is getting paid back if the bank is only giving you 70 - 75% of the worth of the house
Buy a house priced low and calculate the numbers bro. It’s so simple it seems complicated. Hope you got it figured out by now.
Wow! So glad I found this channel! Wish I could do this right now, but at the moment i want to downsize/sell my house. Comps all around this neighborhood are flying like crazy in the 160's & if I was physically able to do & afford the updates myself thats what i'd be asking & get for it too. Been searching for a heloc but lenders round here keep pushing for a whole new mortgage & there is NO WAY I'm going back to that (sigh) any suggestions?
Do you have an office at GTA Canada. I am looking for a mentor on this sort of investing
Don’t you have a 30 year loan to pay back when you cash out refinance?
Now how did you know it was going to be worth 120k before the bank appraised it?
Where do you suggest canadians go for real estate info? The loans are much different and the regulations as well.
Was training to be an Accountant and as an ex-cop to have this knowledge is amazing !
They never actually train you to invest ..
He really try to take claim of "Tore up from the floor up" WTF....
Real state goes brrrrrrr
F. E. E. L. Is definitely life changing.
Best podcast I’ve listened to without the hype just straight information 👏🏾👏🏾👏🏾👏🏾👏🏾
Come back here every now and again to reset. So much great information in one podcast.
Great info! Currently closing on our first property.
You should have a black wife 😉
Brandon you talked waaaaay too much on this one. You should have just given a monologue
“Fixed up from the Sticks up”!
Do the bank always give you 75% back on your investment?
Listening to this for the third time in 3 days
infrastructure repairs are necessary in my area.
Can you use the BRRRR method to acquire new construction condos at pre-construction prices?
You have a new mortgage
But if you refinance how are you free?
Does the book talk about asset protection?
Just bought the book.
Should one consider using BRRRR on Mobile Homes?
DBC aka "I Win" checkin in.
1:02 what is it?
USA 02Sept20: Spoke to a loan broker last week. He said they are not refinancing investment properties at this time. Spoke to one of our servicers as well, same answer.
Step 1 - Have 120k cash :| Step 2 find a 90k property :|
58:30 is where you can start if you want to skip to the actual method
I like you guys but when you mentioned 12 ROI It is a BS
BS no property can get 12 percents
RE is a horrible investment for making money. Good for raising a family, but a horrible investment. Look at your favorite REIT fund... Down 30%???
After you buy it and fix it , how long do you have to wait before you appraise/refinance and pull your money back out ?
We bought the book package.. We are going to start in Jacksonville fl... Could use some pointers if you can look into that area... You guys are the best.. This process is changing our life...
Wow, David Greene is awesome. He really knows his stuff and confidently responded to every question Brandon threw at him! Impressive. Needless to say I'm going to be reading his books.
My favorite new channel. Just discovered these guys.
I'd rather eat Randy. Man you dusted off that fossil! XD
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I'm dying right now watching that video only watch like 30 seconds of it that was enough for me hahaha
What's the link to the bonus content, I have the book I'm a third of the way through (great book btw) would love to get the bonus content.
I don't understand. Aren't you burying yourself in debt? What do you do if one or more of your tenants stops paying rent?
Replace them, sell
Do you have to have a W-2 income to do a cash out refi on a BRRRR?
Question: Is there an advantage to becoming a real estate agent in doing this BRRRR method? Or does it not matter? Thank you for sharing.
It doesn’t really matter but it’s probably more advantageous to be a contractor rather than a realtor when it comes to investing.
I live in NYC how can i buy bargain deals out of state or down south .