Buy Rehab Rent Refinance Repeat
Hello BP! I'm looking to get into multi-families (2-4 units) and would love to use the BRRRR (Buy Rehab Rent Refinance Repeat) method in order to finance future acquisitions. I'm looking into the Milwaukee, WI, Cleveland, OH, Southern Suburbs of Chicago and Memphis, TN and possibly Detroit. Are any of these areas good for this strategy? Would love to hear from those that are doing it in those markets or can provide some expertise. Thank you BP!
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@Account Closed cash flow is what brings me there and biggest challenge are the late rents. Presently I don't have anyone behind in rent but then again many of my tenants recently received there income tax checks. November - January are tough months to get rent on time. Not sure if it's the holidays that do it, but I'm working with a tenant class that would prefer to buy a large screen t.v. before property budgeting and paying all of their bills on time. Go figure.