@Braeden Hoff Start by finding a discounted property and checking that the after-repair value, renovation costs, and future rent make sense. Before closing, line up financing, inspections, insurance, title work, and contractor bids. During the rehab, track your budget, permits, receipts, and invoices. Then market the property, screen applicants consistently, verify income and rental history, and use a lease that follows local law. Once it's rented and stable, refinance using the appraisal, lease, proof of rent, insurance, and financial documents. The best advice is to plan the tenant and refinance pieces before you buy, not after the work is done. BiggerPockets also has helpful BRRRR guides, calculators, podcasts, and forums where you can learn from investors and ask market-specific questions.

Braeden, BRRRR is basically a cycle of five major steps: Buy, Rehab, Rent, Refinance, Repeat, but the details between each step are where most of the work happens.

The buying stage is where the deal is made. You want to understand the purchase price, rehab budget, after-repair value (ARV), financing costs, and whether the numbers still work after everything is included.

During the rehab phase, having a detailed scope of work, contractor agreements, permits, inspections, and a realistic contingency budget is important. The goal isn’t just making the property look better, it’s creating enough value and income to support the next step.

Once the property is ready, you’ll move into the rental phase. That includes finding tenants, screening applicants, setting up leases, collecting deposits, getting insurance in place, and making sure the property is operating correctly.

The refinance step is where many new investors get surprised. The lender will look at the property value, income, debt coverage, your financial profile, and their own requirements. The goal is to pull out capital while leaving the property healthy enough to continue performing.

Throughout the process, keeping clean records is huge. Rehab receipts, invoices, improvements, financing documents, and operating expenses all matter later for bookkeeping and taxes.

Feel free to DM me, I'd be happy to send over some of our resources related to BRRRR.