In this video Tarl Yarber takes us on a property walk through before and after of this awesome BRRRR investment property that he bought, rehabbed, rented & refinanced for a $141,000 profit! www.biggerpock...
@@paulbarronnetwork3025 Investing in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard will be the wisest decision but it’s really difficult to understand the market as a beginner
@@tranhoa2582 Yeah that is true! But have you heard about *Cynthia edna Mchenry* ?? I’ve been working with cynthia since February her platform is the best not experienced any lags throughout its usage, and her insatiable drive for improvement is exceptional.
@@llyodmason1501 No! I’m new to all this I don’t know such person i just need a platform where i can invest and make good profits, do you think she can help me???
Speaking as someone who owns three rental properties and makes good money… Show me the proof or I don’t believe you! Show me the mortgage papers. Show me a rental check boiii. Nobody makes $141k on a rehab anymore
The sarcasm level is high...lmao! Thanks for sharing your passion, this was great. Liked and subscribed from a small RU-vidr comedian. Excited to watch your journey and creations 😃
Thank you --great video. Super helpful to hear how you rehab with the finishes (countertop, floor, paint colors, etc). Helpful to see the breakdown financially. What a great BRRR!
Tarl the biggest question is how did you get this property in 2018 for a steal? Did you cold call the owner, mail, or use a realtor to find it, or put out signs? BRRRR is only as good as the price you buy it for ... it's great that you got it for the right amount, but the secret is in how to get it at that price. Would love a video of how you found this deal, analyzed it, and pulled the trigger to invest. Thanks
So, looking at the rental calculator....1) As an investor...how "important" is it that the Cash on Cash ROI is 8% for the property to be worth investing in?? 2) What should the Cash on Cash ROI be or ideally be? 3) How does one find distressed properties in good / quality neighborhoods?
No question, Tarl Yarber is the best real estate educator on RU-vid. Why do I say this? 1. Highly experienced/successful with over 500 flips and currently owns many properties 2. He is not trying to sell you anything. 3. Provides great detail on all of his transactions. 4. Seems like an overall good guy who is not boring to listen to. If there is someone better than Tarl, please me know. Brandon Turner is a good guy too, but he does not have the experience and his videos go into very little detail of any of his or his guest transactions.
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I didn't know you can use 1031 exchange on rental property. I thought you had to live in the house than 1031 and live in the next property. You telling me I can do 1031 with rental properties. Wow . Yes early retirement coming up. Thanks for the information
Great video and info. Two questions. How did you do all that rehab for 65K? Are you a GC yourself that does all your own work and labor costs are not included the in 65K? Thank you for sharing, love these videos
There’s only two possible answers to that question. Either the video is fake and he didn’t really make that much of a profit… Or he is one of those scumbags that hires unlicensed or small contractors on purpose and then doesn’t pay them at the end, for work they did
Add FYI I own 3 rental homes and make about $1000 cash flow a month per home… And I’m a contractor… But there’s no way you make $140k profit on that size of house. Even if I used my employees & subs directly I wouldn’t make even close to that. Video is sketch
In my opinion, buying and holding is how you make a ton of money. It’s working great for me. But you DO need a good income from your job/biz, to be able to invest in real estate in the first place. I feel like the BRRRR crap is a scam, tbh. They never show any proof
Like Charles said, BRRRR is only good IF you have a high income. If you are in real estate 100%, then you NEED to flip homes for income and BRRRR some homes for longer term investing. He probably sells a BRRRR course which is why he pushes it so hard 😂
Good video! Great Breakdown! Love seeing how the numbers work out. How do you go about a hard money lender to give you $195K for a drug house? Did you have to put anything down?
Great video Tarl. We just did our first 1031 exchange a month or 2 ago. It was definitely worth doing. Anyway, thanks for the great content. Hopefully we can connect at the BP Con in 2021.
The BRRRR method works good when you already have houses that were flipped. If you BRRRR 100% of your houses, you end up with very little income for the first few years until you sell the first house. Nobody is living off a few hundred dollars a month until they build a portfolio of rental properties that could take at least a year or 2. Flip the first few houses for massive income gains and then start renting them out.
Any advice on how to BRRRR a school? We have an abandoned school in a highly desirable area in my neighborhood, and the community would love to see it up and running.
Tarl how did u find a deal like this with this much potential for forced appreciation and equity. I’m a new investor would love to hit a grand slam like this
Hello I love your show. We wouldn't we did our shower just like you white wood trim pretty much identical but we used white grout and it turns yellow what color of grout do you use? And thank you
Yeah, it was super weird to us too when we bought it. Not sure why it was there, but thats how we bought it. Too much to move it and not worth the reward
Lets say you got a hard money loan, finished the rehab and rented out the property. Where would you go to do the refinance? Dont the bank say you are too risky cause you have too many properties or your debt to income ratio is too high.
Wait 90 days to 6months to do the refinance with your bank or credit union. Good enough time to see tenant paying. Some hard money lenders offer refinance.
I learned so much with this video! Thank you so much. Quick question: did you put a down payment on this property? If so was it your money or someone else’s?
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So just wanting to clarify that there was about $11806 in holding costs with the hard money lender? Based on the $206,806 original lender note payoff minus the $195k original “total borrowed”?
This work exceptional well with your method at this current market. What happens if the economy have a down turn? There are so many variable to get everything right. You are correct in that by holding you make more money but It make me nervous that another 2008 recession could happen again.
I have never heard of a concession. Does anybody know about his being done in Canada? What are the financial / tax implications? Is the concession written down at the notary?
The initial lender paid 100% purchase price and 100% rehad? That is very odd that a lender would not make the borrower have some skin in the game. I work for a direct private lender and the max would be 80% of the purchase price.
Private lender, its a private individual that lends their own money. Normal strategy if you have the credibility to raise the funds and secure it with a note and deed of trust. Everyone has different terms they will lend on. Lots of ways to structure a deal
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Rehab cost was added to the 195 and he refinance out of that at about 75% of the ARV which gave him 202500 something like that to pay the PML back. but he owed 206 to the PML so at closing he had to come out of pocket for the rest to settle the deal.
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I have my own real estate business but I struggle when it comes to structural management & numbers. Can someone point me in the right direction to develop systems (KPI) as well as finding someone to hire help me find deals and structure the deals ?
