BRRR in Philadelphia

[Curtis Wortham]

What’s up guys? I’m currently seeking more information and advice for the Popular “BRRR” strategy. For the past year I’ve began seeking knowledge on the strategy and it’s ins and out. I think it’s a very beneficial method that could help me build my portfolio and a great cash flow. If there is anyone local (Philadelphia & surrounding areas) generous enough to connect and share some advice regarding the method I’d love to listen. As well as any local meetings teaching the BRRR strategy. Thank you all and I hope you continue to do well. Curt

[Jeff Onofrio]

@Curtis Wortham - this method is the best.  I'm a huge believer in doing it this way and the 203k is the gateway to getting you started.  Couple of key points that really separate the 203k from other products include: 

- ability to finance up to 6 months of mortgage payments while the renovation is being completed if the whole is listed as uninhabitable by the HUD consultant. This can be huge for your strategy.

- being able to use projected rents when purchasing a multifamily to be able to qualify

- ability to convert properties and increase or decrease units

@Abel Curiel - you are correct - rates tend to be higher- normally 1/4 to 3/4% higher depending on factors and timing. 

I am a huge fan of this strategy (when done right!) and have worked hand in hand with many people doing the same.  Your heading in the right direction!

Good luck and happy investing!