Question

Does anyone here use the BRRR Strategy when investing in real estate? What's your best success story?!  

Answer 1

I used hard $ to buy a house for 86k put a roof on it for 6k, Refri within 1 month to a traditional 30year all in 101k. 2nd month took Heloc for 80% of the new 220k value. And bought a duplex. 0 out of pocket for me :)

Comments

@barghest2002 how does a new roof make it such an increase in value? Or was $86k just a screaming low deal?  

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@vladi screaming low deal.  

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That’s awesome - how did you find it

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@vladi i found it by talking to alot of people it was a person who needed out ASAP. And i helped fix that

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@barghest2002 that’s awesome. And such a good deal

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@vladi thanks i have done a few others i just think that's my best!  

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@barghest2002 jealous - never really thought about the HELOC thing for purchasing new properties

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@vladi when you're broke you think of everything lol. Honestly I asked millions of questions and that came up with my lender because I wanted the duplex at the same time the longer im in this game the more I learn!  

Answer 2

My wife and I are on our first go at it right now. We used a HELOC on our current home to get started. We found a seller that wanted out fast but wanted cash. So we got it for 70k and it had just lowered to 80k that day. We were able to do “cash” because we had the HELOC. As of today, we’re past halfway on a reno that I budgeted 60k for and we’re currently pacing to finish under 40k. So now I just need the house to appraise for 165k and I’ll get my whole HELOC back. And the comps look great for us.  

Comments

@centripetal704 thanks!