Tag Archive for: BRRRR
Check out this real life example of BRRRR (Buy, Renovate, Rent, Refinance, Repeat). Matt McKeever offers an excellent illustration of the popular investment strategy.
Real Life Example of BRRRR Real Estate Investing Method in Canada
Ready to give the BRRRR method a try, but need help with your financing? No worries. Contact us to figure out your financial path and take advantage of our 2-Step Loan Program.
One of the key factors to making more on your investments is working with a lender who can handle your short-term AND long-term loans. Or rather, being able to quickly buy and quickly refi a property.
Why find a 2-Step Loan Program?
Well, most investors don’t have the luxury of closing a deal in 30+ days. They need to close as fast as possible, especially if they’re buying from a wholesaler with a strict deadline.
However, many investors are nervous about using non-traditional funding to close a deal upfront. What if they get stuck in a hard money loan for months and months? What if they can’t get approved for a long-term loan and get stuck with an expensive loan?
That’s why it’s so important to work with a lender who can handle both sides of the coin. And not just any lender, but a lender who has experience with short and long-term loans.
When you work with an experienced lender who offers a 2-Step Loan Program, you’ll:
- Be able to quickly buy and quickly refinance a property.
- Maximize your return on credit.
- Maximize your refinance.
- Enjoy less confusion and stress.
Think of a 2-Step Loan Program like a one-stop-shop for all of your real estate loans.
Less work, less hassle, more money.
Ready to learn more? Contact us today to get the ball rolling.
How do I find wholesalers?
This is a key question many real estate investors ask…and it’s a great question to ask! A key part of the BRRRR method (buy, renovate, rent, refinance, repeat) includes finding and buying under market properties. Although there are many ways to go about buying under market properties, one of the best is via wholesalers.
Who are wholesalers?
Simply put, they’re companies whose sole focus is finding undervalued properties, negotiating the sale, and offering them to real estate investors like yourself. Most of the houses that wholesalers find do not have the margins for traditional fix and flips. However, they work great for rental investments.
Wholesalers have two basic rules of thumb when selling their properties. The buyer must:
- Purchase it as is.
- Purchase it quick.
They will not wait around for appraisals, inspections, and loan approvals. If you want one of their properties, you have to be able to close fast. (Check out our Quick to Buy, Quick to Refi Strategy to learn how you can close your deals fast.)
Where do I find wholesalers?
One of the biggest hiccups investors experience when it comes to wholesalers is finding them. So, we’ve listed out 4 simple methods to try out:
- Search Google for “wholesale properties” or “buy my house.” Most wholesalers are advertising to buy properties AND sell them quickly to investors.
- Search Google for “investor carrot” in your local area. This is the #1 website template for wholesalers.
- Check in with “Ugly Homes.” They buy and sell a lot.
- Call your local realtor office and ask who is working with investors.
Buying under market properties is key to capturing free equity and multiplying your cash flow. So, what are you waiting for? Learn more about rental investments and how to get the most bang for your buck by contacting us or downloading one of our free investor tools!
Don’t fail to start this week. What’s your goal?
Stop Right Now: What is Your Goal? | Impact Quotes
Whether you’re just starting to flip houses or you’ve become an old pro, it never hurts to read about other people’s experiences and learn about tricks of the trade.
We’ve all seen those “reality” shows on TV, where they showcase a house flipper who makes a ton of mistakes, yet somehow still manages to turn a profit. It makes for nice TV, but it certainly isn’t part of any reality I’ve ever experienced.
Check out this post from Mindy Jensen on Bigger Pockets. She offers 11 expert tips on flipping homes, from beginning to end.
Quick to Buy, Quick to Refi, a new 2-step loan strategy, helps you maximize your loan amounts while limiting the amount of cash you put into a project. It also helps you rapidly finish your projects and buy again, and again, and again.
What does that all mean? It means you no longer need to worry about missing out on great deals and getting stuck in expensive hard money loans.
Quick to Buy, Quick to Refi: How to Buy Rental Properties with Zero Down
The Quick to Buy, Quick to Refi strategy all starts with properly setting up your short AND long-term loans.
Now, even though your short-term loan will come first (to quickly buy an under market property from a wholesaler), a key step is to FIRST get pre-qualified for the long-term loan. Why? To ensure you’re able to maximize both loan amounts. If you can qualify for a larger loan upfront, then it’s likely your short-term lender will match that amount.
It also means you’re already going through the process for securing a long-term loan as you begin renovating a property with a short-term loan. Think, “Two birds, one stone.” By the time you finish renovations, you’re ready to refinance into a long-term loan.
But, hold on. You also need to know about the types of refinances. There are two you need to know about: “rate and term” and “cash out”. And yes, it matters you know the differences.
Ready to find out what about those differences? Then check out the whole video here and start capturing free equity, boosting your cash flow, and investing in more properties.
Want more videos with more tips to maximize your cash flow? Then check out our new video page, or subscribe to our new YouTube channel! Be sure to also check out all of our invest tools.