Completed 10 BRRRRs in 14 Months ! (How to BRRR)

Completed 10 BRRRRs in 14 Months ! (How to BRRR)

Ashish AcharyaBusiness Member
CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes

@Account Closed and I bought our first investment property (not a BRRRR) in early 2018. We are both have full-time jobs as CPAs.

What have we done:

  • We just completed our 10th BRRRR in Atlanta and have 17 properties (all in Metro Atlanta).

How did we do:

  • We have received up to $18K in one closing (refi close) vs taken $15K to close (refi close) in another. On average, we haven't had much capital stuck in any of our deals. We attribute our positive BRRRR experiences to our rigorous and risk-based due diligence, conservative underwriting, and meaningful networking.

Operation:

  • Net annual cash flow equals approx. $37,800 after 19% reserve for Vacancy/Credit loss and Capital Expenditure across the portfolio.

Goals:

  • We are looking to acquire a 50+ unit commercial-residential complex (<$4M) by the end of the year. We would love to connect with individuals with similar goals and motivations.
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Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
6y

@Ashish Acharya congrats.  How did you find your contractor(s)?

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  • Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
    6y

    That's impressive. So you buy fixer upper and refi after reno? are you using private money? 

  • Ashish AcharyaBusiness Member
    OP
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    6y
    Originally posted by @Jingru Sui:

    That's impressive. So you buy fixer upper and refi after reno? are you using private money? 

    Hi, Jingru 

    Yes, we have used private money when our funds are tied.   

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  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    6y

    Those are robust renovations, too.  Many people do the "lipstick" renovations, aka carpet and paint.  You went down to the studs.  Nice finish.  

  • Rental Property Investor · Charlotte, NC · Member since 2017 · 48 posts · 24 votes
    6y

    Awesome! Did you guys start a joint LLC or keep in your personal names? @Ashish Acharya

  • Ashish AcharyaBusiness Member
    OP
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    6y
    Originally posted by @Jordan Whitworth:

    Awesome! Did you guys start a joint LLC or keep in your personal names? @Ashish Acharya

     Combination of both. 

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  • Residential Real Estate Broker · Houston, TX · Member since 2008 · 68 posts · 3 votes
    6y

    Nice job! I'm a real estate broker and I'm partnering up with someone to do exactly what you are doing. We are forming an LLC and are opening a bank account with a bank who can help our needs. How are you finding your deals? I noticed you mentioned networking. What type of networking has worked best for you?

  • San Antonio, TX · Member since 2019 · 930 posts · 836 votes
    6y

    @Ashish Acharya

    Great work. What kind of ARV did you work with on these? How much was Reno budget?

  • Rental Property Investor · Cambridge, UK · Member since 2020 · 203 posts · 95 votes
    6y

    This is inspiring, congrats! Looking forward to seeing where you take it next!

  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    6y

    @Ashish Acharya congrats.  How did you find your contractor(s)?

  • Investor · Atlanta GA · Member since 2018 · 188 posts · 71 votes
    6y

    Well done. It is a great achievement. Do you pay interest to your private lenders or give them equity in the deal ? We are two brothers as well and we have done about 8 flips/BRRRR in the last 3 years. Similar goals as yours. Let's connect.

  • Investor · Atlanta GA · Member since 2018 · 188 posts · 71 votes
    6y

    Well done. It is a great achievement. Do you pay interest to your private lenders or give them equity in the deal ? We are two brothers as well and we have done about 8 flips/BRRRR in the last 3 years. Similar goals as yours. Let's connect.

  • Rental Property Investor · Cumming, GA · Member since 2017 · 66 posts · 15 votes
    6y

    @Ashish Acharya.

    Awesome, nice job, I am from north Atlanta, l do new construction also, below is my last latest project and 3 similar home comming soon.. could be nice to connect and learn investing..

    https://www.zillow.com/homedetails/7610-Little-Mill-Rd-Cumming-GA-30041/14644236_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

  • Investor · Athens, GA · Member since 2011 · 306 posts · 156 votes
    6y

    @Ashish Acharya - Well done.  So many more questions I have for you and you must be well connected with some contractors doing good work for a good price too.  Are all these properties ready to sell?? Time to 1031?  Maybe time to jump up to a bigger deal by doing that.  Let's talk more - I sent you a PM

  • Investor · Athens, GA · Member since 2011 · 306 posts · 156 votes
    6y

    @Trin Nagireddy - If you built that house - well done.  I am hoping to do my first new construction in Athens, GA in the very near future.  I would love connect and see if we can work some deals together.  Contractors are the second most important part of the deal after the deal itself!! 

  • New to Real Estate · Member since 2018 · 38 posts · 23 votes
    6y

    @Ashish Acharya

    Congratulations! Exciting to hear how much you and your partner have already achieved so far! Curious question, how did you divvy up the 19% between vacancy/credit loss and CapEx, or are they different for each property?

  • Ashish AcharyaBusiness Member
    OP
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    6y
    Originally posted by @Esther Min:

    @Ashish Acharya

    Congratulations! Exciting to hear how much you and your partner have already achieved so far! Curious question, how did you divvy up the 19% between vacancy/credit loss and CapEx, or are they different for each property?

    That is based on the average of all the properties. We like to keep our property very well maintained with no deferred maintenance. Your reserve might be less based on how you operate.  

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  • Joseph DunphyPro Member
    Rental Property Investor · Tennessee and Georgia · Member since 2016 · 21 posts · 8 votes
    6y

    Great work Ashish! Congratulations. Interested to hear lessons learned from partnering with a family member.

  • Rental Property Investor · Carlisle, PA · Member since 2013 · 1k+ posts · 543 votes
    6y

    @Ashish Acharya, awesome job.  Well done!!

  • Property Manager · Salt Lake City, UT · Member since 2020 · 11 posts · 5 votes
    6y

    @Ashish Acharya how do you go about using private money? I am looking for a step by step brrrr using private money then refinancing.

  • Whitney HuttenPro Member
    Investor · Boulder, CO · Member since 2016 · 1k+ posts · 1k+ votes
    6y

    @Ashish Acharya Congrats!  What's in store for you next?

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