A question about BRRRR investing
Hello Everyone,
So I have been reading real estate books and listening to the BiggerPockets podcasts for a few months now and have a question about BRRRR as I'm getting all my ducks in a row as I'm getting ready to buy my first small multi family deal in the Northeast:
Almost everyone in BP realm knows BRRRR
BUY
REHAB
RENT
REFINANCE
REPEAT
My question is about the refinancing part of the strategy. You’ve successfully Bought a good/great deal. You’ve Rehabbed the units. You’ve Rented your Units. Now it’s time to refinance. What if we have a market correction? Will the Rehab that you have effectively done make up for a market correction thus allowing you to pull equity from the property to properly Repeat the process or do you just have to wait for the market to bounce back before you can refinance?
Thanks in advance!