1st BRRRR Success(ish)

179 Replies

Congrats Michael! This is so awesome. Thank you for breaking down the numbers. This is very encouraging. I was thinking of doing my first BRRRR. I haven't found a property yet. I was scared to take on a big rehab project since I'm not handy and have no clue.

@Eric Williams , small local bank, Peoples Bank (First Suffield Bank).  The caveat is a 3% pre-payment penalty if sold in year 1, 2% year 2, 1% year 3.  They don't want flippers, but want B&H LLCS.  I hate debt, but am going to start using more leverage in the next few years if rates stay low.

@Jenny Li having a good contractor will make a huge impact on your deals. I am not the handiest person in the world either. I really didn't do too much work myself on this project and outsourced most of it. Figure out where your strengths and weaknesses are and make it happen!

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