Longest Distance BRRRR?

[Marty Neville]

13564 kms (8428 miles) From Auckland New Zealand to Roseville, Michigan U.S

This time last year I had never heard of the term BRRRR - buy, rehab, rent, refinance and repeat. Now I can say I've almost come full circle.

During lock down last year I spent a lot of time watching YouTube videos and stumbled across an Australian (Lindsay Stewart) who was acquiring US properties remotely.

I have been investing in property since 2007 but had never had anyone walk me through the process of how to successfully invest remotely.

After months of due diligence I acquired a property in Roseville, MI from (having never been to that state let alone that city).

I was able to buy it deeply discounted, with a tenant in place only doing minimum delayed maintenance items - 500 spent.

The asset is generating a 10.2% net yield and once I carry out a cosmetic renovation that will increase to 16.2% net yield!

The main advantage with US investing is the access to capital. I purchased the property for 68,000. It appraised for 97,000 and I was able to execute a cash out refinance for 60% of the appraised value meaning I received 58,200.

[Drew Sygit]

@Marty Neville congrats!

Metro Detroit offers some of the best ROI in the US.