New Book... Learn to BRRRR Your Way to Financial Freedom!

134 Replies

Originally posted by @Mindy Jensen :
Originally posted by @Matt Ferch:

@Mindy Jensen

Hi Mindy, I am considering ordering the 'ultimate' version, and I'd be doing it entirely for the PowerPoint.

Is there anything you can share about it?  How many slides?  What sorts of things does it cover/offer?

Any info is appreciated.  Thanks!

33 slides, available as both a PDF and PPTx file. There's also a video of David Greene presenting the powerpoint as an example. But let him know that these three files (video, pdf, and powerpoint) are available with any format, not just the ultimate. 

Thank you Mindy, I appreciate it

@Ramon Flores I see you are in the LA area, where did you purchase your 2 properties? I have one about an hour from me (CA) and one North Carolina. To be honest Im not a fan of investing out of state. Im in the process of BRRRR-ing my CA property now.

Cheers

Originally posted by @Mindy Jensen :
Originally posted by @Matt Ferch:

@Mindy Jensen

Hi Mindy, I am considering ordering the 'ultimate' version, and I'd be doing it entirely for the PowerPoint.

Is there anything you can share about it?  How many slides?  What sorts of things does it cover/offer?

Any info is appreciated.  Thanks!

33 slides, available as both a PDF and PPTx file. There's also a video of David Greene presenting the powerpoint as an example. But let him know that these three files (video, pdf, and powerpoint) are available with any format, not just the ultimate. 

Just to clarify, do you get the PowerPoint if your order the book only?  Or is it an additional charge?  If so, how much?  Thank you. 

Originally posted by @Andre' Arceneaux :

@Michael Kiley That's rich information

I've talked with many seasoned veterans who have never heard of this. I imagine you could have the construction money escrowed and have them write a check to your own construction company, thus raising the amount on the HUD, although I wonder if it would draw a red flag to a scrutinizing underwriter. I should say that I've yet to use this strategy as it's not a big deal for me to wait 6 months to finance the property but for someone who doesn't want to wait, this information could be gold!

i can't wait to read the book. Can new investor do the BRRRR? With bad credit how can i refinance

I look forward to getting this book soon! This month, I am closing on my first SFR rental using the traditional method, but for the next one, my goal is to go in with Cash and use the BRRRR method. Thanks BiggerPockets for being such a great resource in getting started.

Originally posted by @Matt Ferch :
Originally posted by @Mindy Jensen:
Originally posted by @Matt Ferch:

@Mindy Jensen

Hi Mindy, I am considering ordering the 'ultimate' version, and I'd be doing it entirely for the PowerPoint.

Is there anything you can share about it?  How many slides?  What sorts of things does it cover/offer?

Any info is appreciated.  Thanks!

33 slides, available as both a PDF and PPTx file. There's also a video of David Greene presenting the powerpoint as an example. But let him know that these three files (video, pdf, and powerpoint) are available with any format, not just the ultimate. 

Just to clarify, do you get the PowerPoint if your order the book only?  Or is it an additional charge?  If so, how much?  Thank you. 

The Powerpoint is part of the Bonus content, which is available with any purchase made on BiggerPockets. So not eligible for books purchased on Amazon, or in a physical store. 

This book is excellent! David surley can put word on paper to really explain the process and make it easy to follow. Super motivated and cant wait to find my first deal!

 Hey complete newbie here so forgive me for the possible elementary question :-) 

I am confused on the refinance step. After I refinance I understand that I would get 75% loaned to me of the ARV. But now I have another loan. What do I do with that? Hope that makes sense

@Gabriel Stephens , it’s the last R... Repeat.

Put $X into deal 1. When you finally refinance, get $X back out. At this point, that investment is recognizing a positive cash flow, including paying for the financing, and you have your original cash.

Take that cash and start deal 2.

When you get your cash back out again, repeat again and start on deal 3. Hopefully you’re also growing that cash so you can increase the size of your deals.

@Allyson Edwards I purchased them OOS. Although I am considering house-hacking, FHA multifamily, AirBnb or something out here.

It's in my cart, and it's the next book we are going to read! I'm a newbie to investing and to BP, but the community here is rich with info!!  Thanks all!

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Is it possible to BRRRR a property with hardmoney?

I received David's BRRRR book a few days ago. It was hard put down!!! I also listen to the audio version on the way to my office in the mornings and read portions during lunch. The BRRRR method has completely changed my real estate investment strategies.

It's a much read!

Happy & Successful RE Investing to everyone,

@Kenny M. Lewis But to be clear the hard money should be used as the original "purchase money" loan to buy the property in the first part of the "brrrr" strategy- "buy".  Then after you rehab and rent you should refinance into a traditional loan or private money loan.  Hard money loans are best used for short term or transactional financing because of their high costs.

Is anyone else having trouble making this Brrrr concept pencil out? Here's what I'm seeing in markets I'm looking at: A house with an expected $200k ARV would need to sell for $100k in order to pencil out. I'm not seeing these opportunities anywhere. Even if you tried to buy at the auction, the bank owned properties will auction with a reserve, so if the property doesn't sell at the price the bank wants at the auction, they just send it back to the auction again until someone else buys the propert for what the bank wants to make on the house. Did this brrrr market evaporate? Is anyone actually finding success doing the brrrr method? And I mean success today. Not someone who implemented the method after the housing crash and rode the wave along the way. Today, can anyone realistically find deals to brrrr?

Greetings all. I'm definitely looking forward to picking this book up!

I will probably use BRRRR for small multi-family properties instead of single family. I'm in one of the hottest markets in the country (The Triangle, in NC) It's Raleigh, Durham and Chapel Hill. The surrounding cities and towns are exploding as well.

Single family rentals are lucky to hit 0.07/8% of the value per month in rent.  The cost to buy-in is getting too steep to justify the rental profits. As a result, more investors are turning to small multi-family (which is also limited here). 

Happy deal hunting to all!

@Joey Allison What makes you believe you'd need to buy at $100k? In that scenario, including closing costs, you're assuming you're putting $50k into making the property look/feel like a $200k property to get to that magical 75% LTV. But what if it was a foreclosure, or other type of distressed property, at $125k and only needed $20k of rehab? Still all-in for under 75%. I recently bought for $45k, put in $35k and appraised $105k. Everyone might lose their minds that I left money in the deal, but it still "pencils out" to be an incredible deal. I don't need "no money down" if "low money down" works is the deal I can get.

Pat, I can get behind that. That’s good perspective.

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