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The “Buy, Rehab, Rent, Refinance, Repeat” (BRRRR) Method Made Simple | BP Podcast 327 

BiggerPockets
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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.biggerpock...

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29 авг 2024

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Комментарии : 1,1 тыс.   
@AdityaKumarSoma
@AdityaKumarSoma 3 года назад
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🙏🙏
@klausspi8137
@klausspi8137 2 года назад
Hello aditya…karan would like to get more insights on this if you have some time?
@whatsindoon2661
@whatsindoon2661 2 года назад
Haha and thank you Aditya for teaching BRRRR to me, I can’t thank you how much motivation I get from you and your video. I want to appreciate you here too. Thank you 😊
@ewlinitis
@ewlinitis 2 года назад
When you Refinance, what do you use ? HELOC ?
@ScottWalshWoodworking
@ScottWalshWoodworking 5 лет назад
As someone who's worked in audio for years, I figured I'd just throw this out there in case you hadn't thought of this before: The majority of the condenser mics like the ones you guys are using are 'side address', meaning you speak into the side of the mic, not the top of the mic like a typical dynamic mic. To confirm, just look into the grill, you should be speaking perpendicular to the capsule (looks like a gold disc). There are some exceptions to this trend. Great Podcast.
@victorgenao2936
@victorgenao2936 5 лет назад
Thank you! First thing i noticed. Ive heard built in camera mics more decent than this so its kinda annoying but good content overall
@conorm2524
@conorm2524 4 года назад
This audio sounds like it's coming through AM radio. They look like decent mics, where did they pull the audio from?
@WooaWooters
@WooaWooters 4 года назад
Thanks for that man, I know nothing of mics like this and I've been looking at getting something like one of these
@dcshewrn
@dcshewrn 5 лет назад
Just bought the Kindle book! Have about 50K, can't wait to get started on a small scale. I'm Dave Ramsey brainwashed so feeling a little nervous LOL, but at my age I don't have years to get it done.
@dcshewrn
@dcshewrn 5 лет назад
well hells bells, I bought from Amazon rt before you said you sell it
@dcshewrn
@dcshewrn 5 лет назад
I checked the links 1st, there was nothing on David's book, so I naturally went to Amazon :(
@elperrocovero
@elperrocovero 4 года назад
Hi.Did you buy anuthing yet?
@adolpholiverbush5867
@adolpholiverbush5867 4 года назад
Dave Ramsey is smart, if you have 200 years to grow your wealth or make mad income. For the normal person buying houses in full will take a decade a pop.
@GWUJO
@GWUJO 3 года назад
MotorcityGal dron
@edcarrington
@edcarrington 5 лет назад
I was today years old when I became a lifelong fan of David Greene... David is dropping MAJOR gems in the podcast
@kiarathebabyrottweiler4279
@kiarathebabyrottweiler4279 4 года назад
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.
@fl3082
@fl3082 4 года назад
What he is explaining around the 1-hour mark is Monopoly; "buy four little green houses and then trade them in on one big red hotel". Which is exactly how Rich Dad taught Robert Kiyosaki.
@fixingstufff
@fixingstufff 2 года назад
And by trading ... is to get a blanket loan .
@lucrtrvl
@lucrtrvl Год назад
Exchange 1031!
@richardjordau
@richardjordau 4 года назад
Just get started immediately next time. We really don't give a shit about anything but real estate and learning
@breathuvfreshair76
@breathuvfreshair76 4 года назад
Thanks Brandon and David for once again providing awesome content! You guys are doing a great job of carrying the Josh Dorkin Bigger Pockets baton and are a great mix of knowledge, humor and charisma. Awesome video full of gold nuggets. 58:18 (quick summary of the key benefits for each step of the BRRRR process) and 58:40 (David summarizing his systems flow) are two of my favorite parts of the video for their simple, yet effective messages. Keep up the great work!
@abdullahshaykh
@abdullahshaykh 2 года назад
I want to start a real estate portfolio and recently came across bigger pockets whilst doing my research. I am compelled to compliment you guys on how well you explain each and every thing and identify pitfalls so others don't fall in them. Ended up saving so many more of your videos in my offline playlist. Thank you. Wish me luck for the future.
@leipzigescobar4085
@leipzigescobar4085 5 лет назад
BiggerPockets is an amazing educational, down to earth channel. I was tempted to write 1 millions comments every time the gentlemen touched on a subject, instead I decided to take notes😉. My partner and I have been doing rentals going to 7 yrs and seriously looking into flipping ( well we are upgrading to BRRRR investing). Thank you guys!!🎆🎉
@PennsylvaniaHomesforSale
@PennsylvaniaHomesforSale 5 лет назад
How did you do and or finance your 1st 7 deals?.. we just did our 1st rental looking to do a 2nd rental
@alfonsoh3
@alfonsoh3 5 лет назад
Leipzig Escobar have you tried this method yet? I have one rental and purchased it at a GREAT price. I just fixed it up nice and now went up on my rent. I was thinking of flipping it but I love the residual income this rent property gives me.
@alfonsoh3
@alfonsoh3 5 лет назад
B Muss how’s it going, did you get your 2nd rental yet?
@PennsylvaniaHomesforSale
@PennsylvaniaHomesforSale 5 лет назад
@@alfonsoh3 hey bro I'm still patiently waiting for my 2nd rental deal. I'm deciding weather to buy a really cheap house cash and then heloc it or, I might put 5% down on a conventional loan if I can find the right multifamily unit cash flowing
@PennsylvaniaHomesforSale
@PennsylvaniaHomesforSale 5 лет назад
Any update from you?
@WhiteBoardFinance
@WhiteBoardFinance 5 лет назад
David Greene = American Dream 👍
@lourdesmartinez3869
@lourdesmartinez3869 3 года назад
OMG Marco,I'm a fan of your channel too.. I must be on the right road 😁🤗
@jayandjulied2299
@jayandjulied2299 3 года назад
@@lourdesmartinez3869 ppppppll
@kirthiroberts645
@kirthiroberts645 5 лет назад
Thanks Brandon and David for another exciting podcast. David I ordered your new book on BRRRR and was waiting patiently until today to receive it into my Kindle. I am already part way into Chapter 1 and looking forward to reading it and then implementing the strategy with my next investment. Cheers!
@dfigenscher
@dfigenscher 5 лет назад
One thing I’m not seeing mentioned in any BRRRR content is the fact that there are fees associated with a refinance. These fees can be wrapped into the loan with most banks, however the balance still cannot exceed 70/75/80 percent of the ARV (whatever the bank offers). I think this is important to note because that’s either 5-8% in fees that either need to be paid out of pocket, or your “all in” figure has to compensate for these fees.
@onealr
@onealr 4 года назад
Do you have to take the full LTV amount? Let's say I only need to take out a LTV of 45% to repay lenders, because I'd rather have a smaller monthly mortgage for greater cash flow. Is that possible, or is it always the full LTV at cashout refi?
@aaronschultz7510
@aaronschultz7510 4 года назад
@@onealr any LTV is doable. But keep in mind the lower you go with the loan amount, (if under 100,000 or so. Your rate will go up. Lenders like larger loans, especially on a 30yr. Also if you did take out the full ltv, you could use the cash for a different property and maybe get two properties to brrrr. Or a larger more profitable property. Just some food for thought
@skyblue9991
@skyblue9991 4 года назад
@muttr He explains it in the first 8 mins of the podcast... Watch the podcast. 😑
@ThePatriots1993
@ThePatriots1993 4 года назад
@muttr After Repair Value; Loan To Value
@jaynorman7557
@jaynorman7557 4 года назад
Thank you! Great tip!!
@lovelylanibk
@lovelylanibk 3 года назад
Best podcast I’ve listened to without the hype just straight information 👏🏾👏🏾👏🏾👏🏾👏🏾
@curtisj24
@curtisj24 5 лет назад
Fixed up from the Bricks up!
@rdot980
@rdot980 4 года назад
Ha!!
@robertbush8777
@robertbush8777 Год назад
This is a fantastic idea. And I’ve use the brrr to buy my first for rental properties and I didn’t even know I was doing a brrr. The only thing is that when you are getting a home equity line of credit you are using your own money. Buying a house is like putting your money in the savings account. The home equity line of credit is pretty much putting a lien on that house to have access to that money. You still have to pay it back. With interest. No I definitely agree as long as you’re buying a property and getting the deal that you need on it and you’re renovating it within your budget. As long as the percent you’re getting back yearly has much greater than the percent of the loan then you’re making out and a pays for itself.! Looking forward to watching more of your videos.
@cypressprowash2424
@cypressprowash2424 Год назад
How much cash out of pocket did you need to buy it?
@Keephopealive2013
@Keephopealive2013 5 лет назад
Wealth of knowledge. So freely given. Thank you
@zerohero6602
@zerohero6602 4 года назад
Ndubuisi Egwim yeah man it’s crazy how much you can learn from watching RU-vid
@CarlosPerez-ut5ze
@CarlosPerez-ut5ze 3 года назад
@@zerohero6602 not every youtuber gives this much free GREAT knowledge
@happygrass5
@happygrass5 2 года назад
And it's actual functional information instead of motivational garbage
@brandongrennan7602
@brandongrennan7602 Год назад
The way David broke down that BRRRR deal with the property that appraised for 105K was fire!!!! Broke it down Barney style quickly and concise.
@iBuyAnyCom
@iBuyAnyCom 5 лет назад
Black belt investor: definition. master of real estate investing. Good analogy.
@SethWilcock
@SethWilcock 2 года назад
This video changed my life. Thank you guys. Also - David, if you ever want a free snowboarding lesson and in you're in Colorado, hit me up. You'll master it by the end of the day. Guaranteed.
@caseybonas3385
@caseybonas3385 5 лет назад
This is how Ben Mallah built his empire. Also using 1031 filing to stay ahead of the IRS.
@dancabrera465
@dancabrera465 5 лет назад
where is josh dorkin? do you know?
@rb7454
@rb7454 4 года назад
What is 1031?
@AlexChavez-il1hj
@AlexChavez-il1hj 3 года назад
@@rb7454 google it bro.. google is your bestfriend
@dpimprovements9905
@dpimprovements9905 2 года назад
I haven't hand written this many notes since I have been out of school 😂 I've paused and played back idk how many times and I still have 25 min. to go! You guys have much respect from me and thank you.
@mikedrewrealtor1228
@mikedrewrealtor1228 4 года назад
Listened to the book twice already and it is very well written with a lot of great information! Thanks for the great podcast Brandon and Dave!
@cglendenning
@cglendenning Год назад
David and Brandon, you guys are so awesome. Each of you have the heart of a teacher...people have really good B.S. detectors, and your authenticity of your enthusiasm shines through. There is a really cool theme with these Acronyms. BRRRR & FEEL both align well with the "OODA Loop" - Observe, Orient, Decide, Act. I believe the OODA origin is from the U.S. Air Force but generally, the idea is to focus on the process. You "Fail Forward Fast" by working in this tight loop of activity. I love it!
@veronicavelasco8456
@veronicavelasco8456 2 года назад
love this video, I bought all the books including BRRRR book. I'm very excited, thank you both for the great information. Blessings!
@jamesbarnes1847
@jamesbarnes1847 5 лет назад
That “system” bit was pure gold. Are the “systems” you use in the book? Tips on setting up the systems and network?
@CarlosPerez-ut5ze
@CarlosPerez-ut5ze 3 года назад
Ofcourse
@jasonsschatzberg
@jasonsschatzberg 5 лет назад
These guys are really good in explaining.
@EvanEvansMusic
@EvanEvansMusic 5 лет назад
I found this after buying the audiobook! So far I definitely could have gone without all that 20+ minutes of introduction. Just some constructive criticism for the show. So much non-value until the teaching of the method came up. But keep up the great work guys! Bigger and better!
@max.1q84
@max.1q84 4 года назад
9:30 How Brandon discovered BRRRR 11:28 Benefits of BRRRR
@trojan7933
@trojan7933 2 года назад
David Greene is very smart and humble
@auctionman707
@auctionman707 5 лет назад
If your a real estate agent, you have access to see expired listings. When these deals are expired you can deal with just you and the owner.
@luzareizaga2141
@luzareizaga2141 4 года назад
@muttr I agree , you would still have to get broker involve if you learned of the listing because of the broker listing
@springisthenewyear
@springisthenewyear 5 лет назад
Thank you so much for sharing this information. I just bought David’s BRRRR book and Brandon’s REI book. Excited to finally get this started.
@Ambrosha385
@Ambrosha385 4 года назад
58:30 is where you can start if you want to skip to the actual method
@dougal722
@dougal722 2 года назад
Brandon I just want to point out The advice you gave on putting laminate floor instad of carpet.On average laminate flooring cost about $1,000 per standard 10x15 roomjust for the flooring alone ,no installation cost included.Your average carpeted room at the same sizewith installation is around 5 to 600 if you use Berber carpeting that isn't mono colored.The laminate flooring Unless covered with a rug is susceptible to cracking breaking splintering shreddingand shedding because of the nature of the click lock installation and the thinness of the pieces where they overlay . dealing with this right now in a 10 bedroom house that's over 120 years old with extremely uneven sub-flooring and joist issues. A great suggestion for houses built within the last 20 years that have no sagging or structural issues. The new laminate and flooring Install was done last year with normal office/gamer chair wear and tear . Rolling back and forth causes significant cracking and splintering of those aforementioned areas. with deposits typically equaling first month's rent and that being a couple hundred dollars under the typical $1,000 replacement of the flooring itself It is actually a loss to put in laminate flooring that's just going to be damaged within a year or two when carpet lasts at least 5 years with proper cleaning and care assuming you rent to a clean person.
@Jason_Amada
@Jason_Amada 4 года назад
My favorite new channel. Just discovered these guys.
@johnnymata523
@johnnymata523 5 лет назад
You guys have any videos were you guys educate on the financial side of brrrr ? Like how to work with the banks and what do they look at how much money you need to have or if they have any guidelines to qualify to refinance a brrrr project. Thank you
@lindseynoble1
@lindseynoble1 5 лет назад
I nearly peed myself when he said, "God is great, god is good, let us thank him for this Randy."
@garciavashchino1
@garciavashchino1 2 года назад
I feel like you guys should already own the planet... like how is this not already a thing? I want to get my first rental BRRRR, so more research is needed, but this is a good start.
@vaughanmoody
@vaughanmoody 5 лет назад
I’m halfway through listening to this on the podcast and am loving it. Thanks Brandon & David!
@ArtistWizardry
@ArtistWizardry 5 лет назад
Thank you for doing the audiobook for it too. Hard enough to get the Honey fully on board and hoping hearing from you will peak that interest.
@davidgiles2426
@davidgiles2426 3 года назад
I’ve had 100% respect for you both. I’m a long time listener and this is my 3-4th time watching this. You’ve inspired me to BRRRR a house. I’m in the middle of rehab right now. All of the advice on here is amazing. However, I have to say, the “rather eat randy” recommendation was horrible. 😂 Would not recomend.
@shackletonfinance1767
@shackletonfinance1767 3 года назад
Good luck!
@mattwebster7852
@mattwebster7852 Год назад
Update?
@leonelromero3296
@leonelromero3296 Год назад
@david giles how’d it go ??
@BrinAmberlee
@BrinAmberlee 3 года назад
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 🙏🏼
@shackletonfinance1767
@shackletonfinance1767 3 года назад
Good luck on your investment journey!
@BrianHKiely
@BrianHKiely 2 года назад
Thanks for the great episode! I’ve been listening to the audio book on my daily dog walks and drives. Great info. I will absolutely get into my first deals this year. 3+ in 2022!!
@SterlingWhiteRealEstate
@SterlingWhiteRealEstate 3 года назад
David's advice to lower capital expenditure, perform the rehab first before getting the appraisal. This pumps up the property's value and you can get more money back. A good advice for those looking to maximize profits. At 27:08.
@SA-ho1mu
@SA-ho1mu 5 лет назад
Gucci Mane has entered the chat. Gucci Mane: Brrrrrr!
@sunofman2008
@sunofman2008 5 лет назад
S A or bird man
@shelleygreyrealtor
@shelleygreyrealtor 5 лет назад
😂😂😂😂
@mack_valenzuela
@mack_valenzuela 4 года назад
Aanual too haha
@bigwob33
@bigwob33 4 года назад
1017
@kennethwill246
@kennethwill246 4 года назад
Thinking the same thing
@justinb1606
@justinb1606 5 лет назад
Im brrrr ing two deals right now. LOVE IT! This is my very first.... and guess second deal. Purchase and Rehab was 100% financed working on a refi now and expecting a few $k in my pocket. Oh yeah, and cash flows!!!
@3dinterview528
@3dinterview528 5 лет назад
Justin B Did you use a hard money lender when you say “purchase and rehab was 100% financed”?
@justinb1606
@justinb1606 5 лет назад
@@3dinterview528 yes, I used a hard money loan on each of them. I just refinanced this past Tuesday.
@goodlife3437
@goodlife3437 5 лет назад
So Justin...I'm struggling to get started but gone DO THIS!...So let me ask did you find the properties yourself or did you use a realtor? I called a realtor that I knew, in fact the second one and they both just don't seem interested in those of us wanting to buy properties for fix and flip or buy and hold. I've found a property that I wanted to go check out but the first thing they both ask is do you have a pre-qual letter....help me out what am I missing...open for any tips...thank you
@justinb1606
@justinb1606 5 лет назад
@@goodlife3437 In my opinion its very difficult to find great deals with realtors. And when you do the price is drivin up by the competition. I found my two rental properties by driving around. (Driving for dollars) I was looking for distressed homes in a good neighborhood. These homes never hit the market. I would also try and contact owners of rental properties sometimes you get lucky and find someone that's out of state and ready to call it quits. Or you find out that they passed away and the family will be inheriting a property they don't want. Its kinda how I pick these two up.
@goodlife3437
@goodlife3437 5 лет назад
@@justinb1606 Thanks for your quick response Justin. I actually found a property that's listed gone try to offer 20% less of what they're asking since it's definitely gone need some work and see how that pans out. I noticed 2 properties on the next street over from it were rehabbed and currently asking 118K vs this property listed at 79K that I'm considering. Another question, where/how were you able to find your HM Lenders to do 100%? As you can tell I'm like new to this :-) I'm hoping to build a portfolio of 25 homes with a net CF of $200 per month over the next 3 yrs...not sure if that's too lofty or what. Thanks man for your feedback and response.
@misunderstoodkj
@misunderstoodkj 5 лет назад
Tore Up from the Floor Up by: Sheneneh from the TV show "Martin".
@d.miller6062
@d.miller6062 5 лет назад
Ha ha they don't know about that!
@promisestarxd9487
@promisestarxd9487 5 лет назад
misunderstoodkj thank you!!!!!!!! I knew it was from a show but I couldn’t remember which show
@MrMarkmill
@MrMarkmill 5 лет назад
Facts
@victorassessing7
@victorassessing7 5 лет назад
@Timothy Graham and if they don't know now they know
@chalongehart3134
@chalongehart3134 4 года назад
" What is black culture?" For $500
@Marie34694
@Marie34694 2 года назад
“Tore up from the floor up” has been used by the Urban youth since the 80’s, as many other amazing creations.
@flashpb04
@flashpb04 5 лет назад
Oh dear lord this is the episode I’ve been waiting for. Can’t wait for the book!
@the_reel_uh_tour
@the_reel_uh_tour 5 лет назад
I look forward to more books from Bigger Pockets. And a book on BRRRR would be fantastic to read.
@vcatdog832
@vcatdog832 5 лет назад
Absolutely hands down the best episode of BP
@the_reel_uh_tour
@the_reel_uh_tour 5 лет назад
@@vcatdog832 It is definitely a great episode! 😄
@REIJames
@REIJames 4 года назад
The BRRRR book is out and is good.
@robertjaxon
@robertjaxon 4 года назад
If you are looking for one resource to learn how to do Real Estate investing this would be it. There’s also a book that goes along with it that has valuable bonuses. These guys are excellent teachers and fun to listen to.
@shawnj908
@shawnj908 4 года назад
I am so happy I listened to this podcast....thank you guys for this info and I will definately be refrencing this video and book...Great work guys!
@nursereesey2495
@nursereesey2495 3 года назад
I just bought this book. We have 2 properties right now. The second property was a cash buy and we want to use the Brrrr method to upscale so we can gain financial freedom faster.
@ricardorivera7208
@ricardorivera7208 5 лет назад
David Greene got me taking notes. Looking forward to read bigger pockets library.
@acadam06
@acadam06 5 лет назад
As an agent that specializes in working with investors I find myself on a very regular basis telling them to get on BP. This is a GREAT concept!
@devonniegos625
@devonniegos625 5 лет назад
This is one of my favorite BP podcasts thus far and I’ve probably seen 75% of them. David is brilliant! Thanks for all the great info. I’m BRRRR’ing my first duplex right now myself.
@shackletonfinance1767
@shackletonfinance1767 3 года назад
Congrats on your refinance. Best of luck on securing your next property!
@tonymartinez5946
@tonymartinez5946 5 лет назад
David and Brandon... excellent Video! I often frown when I see 1 hour plus but this is tome very well spent! It was like a good book. I’m at min 1:04, ran a couple errands, doing busy work at home (😒 Laundry) and I’m totally bummed because I realized I’m almost done with this one. Glad I chose to listen to the whole interview. I replayed several parts as I’m slightly distracted. Good Stuff gentleman! Ordering your book tonight.
@carlahlers9454
@carlahlers9454 5 лет назад
A msg for David Greene. Hey David, I’m reading your BRRRR book and agree with your 1% rule which I’ve used for years, along with it’s flexibility for more expensive properties... but I believe you have an order of magnitude mistake when you relax it to 0.08% on pages 55 and 56... I believe you mean 0.8% which is considerably closer to 1%. If it were 0.08% you meant, it just would not make sense to me...
@carlairons3573
@carlairons3573 2 года назад
I didn’t know you were a LEO. I’m an officer in Jupiter, Florida and retiring in 10 months. I love listening to your podcast and RU-vid videos. I too want to build a successful real estate portfolio.
@michaelsockwell7602
@michaelsockwell7602 5 лет назад
This podcast is so awesome and insightful. I’m watching it back again. I hit the 👍 and I’m planning on getting the book. Buying my first Brrrr this year. Tha is for all you guys do
@the_reel_uh_tour
@the_reel_uh_tour 5 лет назад
I agree this podcast was very awesome and insightful. I also look forward to reading the book. All of the other books that I have by Bigger Pockets have all been great.
@spaceshipmoon69
@spaceshipmoon69 2 года назад
Truly superb content on just the career change i'm making! Thanks!
@cityparkproperties7001
@cityparkproperties7001 5 лет назад
One thing that must be considered on either a the BRRR or a flip are excessive costs. If it’s a rental you may be able to less expensive materials, while on a flip in a nicer neighborhood, you what to spend s little more. I’ve been shocked by what plumbers charge for replacing shower kits. One of the less expensive charges $520 for labor. It will be a little less for the sink, but we’ll end of spending no less than $2000 and this is not a full bathroom rehab. For a 2 bath house you can expect to pay $2,500 per for a total of $5,000. Good idea to just be aware of your costs. Between kitchen and three bathrooms we’ll spend over $12,000 on a $200k house in Atlanta. Total rehab will be $30,000 at least but probably closer to $40,000. With these costs, you’d really need to buy well below market prices. David is probably keeping his costs low and probably builder grade. Yet still, I wonder how expensive his plumber is. 😂
@rdot980
@rdot980 4 года назад
Those numbers are why I replaced my own water heaters and ran my own electrical when adding lighting. They charge like it's difficult. It's not. Same goes for working on my car. They'll charge $500 for 30 minutes worth of work and $70 in parts.
@jerrodcowlishaw
@jerrodcowlishaw 2 года назад
“I’d rather eat Randy “ is fantastic 😂 I’d never heard of this song, and paused to listen and I was not disappointed
@Jordan_Warrington
@Jordan_Warrington 4 года назад
My only issue with this format is that the reduction of capital also comes with an increase in liability (refinance payment). I think this can be done but I really think people need to be careful as it can go wrong if the numbers are off. Still something to think about
@ewlinitis
@ewlinitis 2 года назад
That's how people learn, by making mistakes. So my question to you is, how would you do it ? I feel that this is for people that dont have much cash on hand
@SDFlagg
@SDFlagg 2 года назад
Hey Brandon love your FEEL approach. With respect I added two more words based on you’re explanation of the concept. F.E.E.L.E.R Focus Educate Execute Learn Evaluate Repeat
@darkrangerl
@darkrangerl 5 лет назад
Quick summary: • The velosity of money: the quicker I can send out my money to come back with a bump. The higher my net equity is. 2x a month, 1x a month, 1x every 3month's. Etc.
@TheWisendorf
@TheWisendorf 2 года назад
I have been listening for weeks about the different ways to buy,fixup,rent,or sale . Profits . Passive income the whole bit. For me it gets down to this. I am a senior citizen retired on a fixed income. Maybe we save 100 dollars a month if nothing breaks or falls apart. A real mess! But it is MY mess. And it is up to ME if to change that if I really want to go forward. I was so depressed over this but where there is a will there is a way. Face it folks to do any damn thing in this country you got to first get off your butt. I started searching and low and behold I found a dish washing job at Applebees . Pay is 18,000 a year. This will be additional income that I can save every bit of it. Not a hard job to do unless you feel washing dishes is beneath you. I started brain storming myself and guess what. I got stuff around the farm here that is only collecting dust. An old tractor with front loader. And several pieces of equipment collecting rust etc. etc. It will take a while but in the mean time I can still keep educating myself.. This is a wonderful country folks.
@lisvetmatos7434
@lisvetmatos7434 5 лет назад
You guys are the best in the real estate industry !!!
@beccasophiascott
@beccasophiascott Год назад
David is just insanely smart and inspiring! Thanks for all this great information. Can’t wait to be at the point of having too many single family homes and turning them into one big one!
@hungrybarber
@hungrybarber 5 лет назад
Sounds like the main key to BRRRR is the purchase price...this makes or breaks the strategy it seems.
@wirecoaching477
@wirecoaching477 5 лет назад
Buying right is always the key to any good deal
@jf8474
@jf8474 5 лет назад
Absolutely! It's pointless, if i can make 30k anyways, i don' need brrrrrrrr, but he doesnt tell you how to get a house that cheap
@Logan.A.rademeyer2147
@Logan.A.rademeyer2147 2 года назад
If I haven't mentioned it before, Brandon Turner and David Greene, you guys are awesome
@waleedabdulrab8779
@waleedabdulrab8779 4 года назад
"Fixed up from the sink up" I got you David.
@devonr7497
@devonr7497 5 лет назад
PLEASE CORRECT ME Why is there any difference in doing this with multifamily. Curently im 18 years old, I am planning on my first investment to be a BRRR with a duplex or triplex worth up to 1 million (max you can do) and live in it for atleast one year and use a FHA loan for 3.5-5% down (bought between 3 people) Then renovate it AS MUCH AS POSSIBLE based on the area (other comps etc) It will be funded via a hard money loan (10-12% plus points ofc) (super cheap compared to putting in all your money/way better roi) Then after the reno we make basically all the profit from the renovation/ the new equity in the house because we only paid 10%/year plus points, on whatever we reno Example: $50k renovation for 6 months is $2500 + say $1500 in points = $4000 to make around $100k in equity from a $50k renovation (renos basically get atleast double what you put into it ie $25k reno is $50k ish overall equity in the property/ $25k gross profit) So literally $4000 to make $100k profit and the more you renovate (barrow from the hard money lender) the more money you make, its endless it really seems like it has to be impossible... you literally make all the money that the lender gives you ie $50k loan makes you $50k ish......…. INSANE WORLD WE LIVE IN
@flashpb04
@flashpb04 5 лет назад
I think these podcasts are fantastic. I would love for Bigger Pockets to create a segment that goes really deep into how to structure deals. As deep as you can possibly go, into very fine specifics for people who have deep grasps on all of these concepts!
@HjCrawford
@HjCrawford 5 лет назад
Yes!!! 🤗
@nxadragon
@nxadragon 5 лет назад
Wait... If you refi 90k you then have to pay off the 60k existing mortgage, then you can get back your 30k, you don't have 90k to go out and do it again and again. You basically just have the same 30k except now you have equity that just sits there until you sell.
@ymichelle34
@ymichelle34 5 лет назад
@@nxadragon The point being you pay your lender back quickly, they're likely to turn around and loan to you for the next one...
@johnskyleir
@johnskyleir 2 года назад
I LISTENED TO YOU GUYS AND 80'S DISCO CRYSTAL BALL APPEARED , LIGHTS AND LET'S DANCE .... DAMN INFORMATIVE. THIS VIDEO IS A SIGNIFICANT EDUCATION THANK YOU.
@thomasgentil4907
@thomasgentil4907 3 года назад
where can we find an Excel spreadsheet with the BRRR calculations? that would really help.
@Rsn.Slippinfoot
@Rsn.Slippinfoot 3 года назад
The real question is where are you finding these houses at $30-60k
@fluffycomedian
@fluffycomedian 3 года назад
Fam... thats a down payment
@Rsn.Slippinfoot
@Rsn.Slippinfoot 3 года назад
@@fluffycomedian no m8 that's the purchase price.
@chicagorealtormike
@chicagorealtormike 3 года назад
You basically gotta go to some backwater towns to find those prices
@tonybestworld
@tonybestworld 3 года назад
I need a master i live by florida but could be in texas too .. 😊
@HiroNguy
@HiroNguy 3 года назад
In the sticks where there are no paying jobs, and in the inner city where there are more hoods than neighbors. Ya pays yer money n takes yer chances.
@deandray77
@deandray77 5 лет назад
Maybe “Fixed Up from The Sticks Up”
@waleedabdulrab8779
@waleedabdulrab8779 4 года назад
Griffith Group Mine is better. 😁
@theocedillo7515
@theocedillo7515 4 года назад
Maybe "Bricks up"
@juniorgermaine6756
@juniorgermaine6756 4 года назад
from the ground up*
@billiebarnett7827
@billiebarnett7827 3 года назад
Are you trying to rob a rehabber?
@skyblue9991
@skyblue9991 3 года назад
Come back here every now and again to reset. So much great information in one podcast.
@marcush219
@marcush219 5 лет назад
Did David take credit for "Tore up from the floor up"? LOL that's old 90's slang.
@jazziedazzle
@jazziedazzle 5 лет назад
I know right! It's funny how "certain" slang pops up decades later like it's brand new Lol
@shanda01114
@shanda01114 5 лет назад
Kmsl. I am watching this on my smart TV and pulled out my phone to make sure to comment regarding that. Lol. Like that is one of the most popular phrases from the 90s. I'm surprised Brandon didn't know that.
@monteblackwell4652
@monteblackwell4652 5 лет назад
@@jazziedazzle It's brand new to millennials.
@browneyes39
@browneyes39 5 лет назад
Yes he did. I was listening to the podcast and came to you tube just to comment on him trying to take credit for “tore up from the floor up”. Sad.
@shanda01114
@shanda01114 5 лет назад
@@browneyes39 happy I'm not the only one who had to come and comment
@MrNesjes24
@MrNesjes24 5 лет назад
Every Morning just listen to BiggerPockets that is all the motivation and knowledge you need
@socialexperimentgaming4808
@socialexperimentgaming4808 5 лет назад
or, where they came from...Lifestyles Unlimited. I'll take the older guys who are not getting off to just hearing tore up from the floor up. Youth still make to many mistakes. And this process is not new. It has been around since the advent of real estate.
@Jreddygo
@Jreddygo 4 года назад
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.
@lomparti
@lomparti 3 года назад
It doesn’t really matter but it’s probably more advantageous to be a contractor rather than a realtor when it comes to investing.
@FreestylingIsLike123
@FreestylingIsLike123 2 года назад
Just to tag on too this I'm going for my GC license aswell this year. But having my real estate license helps negotiate a lower price by throwing up your commission as a price drop point or using it like a closing cost coverage like I did in my last property saved me $3,500 representing my self. As well as the network of real estate knowledge and MLS access pros and cons to being active tho costs me average of 2,500 to maintain an active license in NC.
@frogger2513
@frogger2513 4 года назад
Listening to this for the third time in 3 days
@Planetgreenzen
@Planetgreenzen 5 лет назад
Thanks Wonder Twins David is so wise and has great advice with every word he speaks.
@nick-eh5gb
@nick-eh5gb 3 года назад
Yes do more like the one he mentioned where he said the lady disputed low appraisals in Philadelphia ‼️ we need more Philadelphia real estate knowledge ‼️
@flashpb04
@flashpb04 5 лет назад
Best show yet. Great job fellas. And I’ve listened to nearly every single one of them. This is good stuff here
@danj7290
@danj7290 5 лет назад
Me to iv only got 50 left. How many do you have?
@matthewkramer8613
@matthewkramer8613 5 лет назад
A lot of gold nuggets in this episode! I think when multi-family become more of the portfolio, single family deals may become less of of a focus. However, the speed to closings might be faster on single family. After acquiring so many SFRs, consolidation to multi makes sense. following the principles or Monopoly, four green houses for one Apartment.
@RERK8
@RERK8 4 года назад
As part of the International Association of Randy/i/ie/ee's, Julian Smith's video is disturbingly entertaining. You guys are hilarious!
@erastusmuhia224
@erastusmuhia224 3 года назад
Was training to be an Accountant and as an ex-cop to have this knowledge is amazing !
@erastusmuhia224
@erastusmuhia224 3 года назад
They never actually train you to invest ..
@kmilton8546
@kmilton8546 5 лет назад
Lol at him taking credit for Tore up from the floor up when that has been around since the 90s . Martin Lawrence!
@frostedjedi
@frostedjedi 5 лет назад
Hey wildland firefighter here that heard about this podcast from a coworker. You guys inspired and educated me enough to buy my first duplex and house hack it. Just curious what video games you play haha.
@REIJames
@REIJames 4 года назад
noah pratt congrats!
@zackschumacher4825
@zackschumacher4825 5 лет назад
This is one of My faviorte podcasts ever on god
@basednwhitepilld
@basednwhitepilld 4 года назад
On God 💯
@four716
@four716 3 года назад
On god 🤝
@destinhook3826
@destinhook3826 3 года назад
On God 🗣
@amacmazing
@amacmazing 7 месяцев назад
You guys have great chemistry. So funny. Love the content thanks!
@smartmoneycafe1057
@smartmoneycafe1057 5 лет назад
One of your best videos so far. Strategies and reasons are clearly mapped out.. Thanks a million. I am getting the book
@eddytejano515
@eddytejano515 4 года назад
I'm doing a deeper research on this strategy. I really like it, thanks very much. I will buy your book, study and pursue it, i hope it will work with our very challenging market here in Vancouver, Canada.
@skyblue9991
@skyblue9991 4 года назад
Check out the channels Meet Kevin and Graham Stephan for some great info on this strategy.
@Johngoldbranson
@Johngoldbranson 5 лет назад
What are the biggest deals you guys pick up? Both in terms of price and also in terms of units? Any preference on unit mixes when closing your deal?
@utubernan1223
@utubernan1223 3 года назад
Here in El Paso, people are constantly contesting their property value is too high because property taxes are so high! I’m from California and I don’t ever remember people talking about that. People always liked the idea of their property values going up, I never hear people talk about that here. Property taxes here are ridiculous
@gersonbueno1502
@gersonbueno1502 5 лет назад
The, Bruce Lee quote is so powerful
@chasitysmith6509
@chasitysmith6509 8 месяцев назад
Is there a checklist of the questions that your property manager's admin assistant has? That would be a great resource!
@AgentDoubleV_Gaming
@AgentDoubleV_Gaming 3 года назад
REAL QUESTION IS, what happens when the next bubble pops and all of your assets you've accumulated through the BRRRR method are not liquid? what happens when the banks call the notes like they did in 2008?
@kevinbotero8816
@kevinbotero8816 2 года назад
How would you structure this legally? Would each property have their own LLC? Or is it better to have all properties under one LLC?
@hulk6164
@hulk6164 Год назад
Good question, did you find an answer in your studies since this comment?
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