Is BRRRR possible to do with a condo? Wondering because how much extra value can you really add to it?
Yes, @Jake Schwiss , but in general condos are difficult to make work as rentals. While there are certainly exceptions, the HOA fees, potential for special assessments, and potential association rules around renting units make them very dicey.
@Jake Schwiss I am in the process of the refinance part on a condo I was hoping to set up on the BRRRR strategy. My particular unit does not have HOA fees. I'll will let you know if it works in my favor. If not, even using hard money I am cash flowing around $200.00 a month, but I'd like to pull some money out of it to have some capital ready for the next deal.
I just finished up a slam dunk of a BRRRR in Boston. A 3br/1ba condo to be exact. Will be posting / sharing in the deal diary forums in the next couple days.
@Jaysen Medhurst thanks ill make sure to be careful.