Chicago/Indiana BRRRRR Mentorship

3 Replies

@Ayana Kwaza welcome to the forums and welcome to Chicago! BRRRR investing is great if you have the knowledge and resources to pull it off. It doesn't always work as perfectly as the more simplified version you hear about, but when you get a perfect BRRRR deal it is an amazing strategy!

@Ayana Kwaza - Congrats to you for hopping on BP and starting the real estate investment journey.  

I completely agree that the BRRRR Strategy is a great one if you can pull it off. Right now inventory is low and demand still seems to be high so deals are becoming harder to come across. Just be sure you have people on your team who know what they are doing.

If you need any help or referrals shoot me a PM and I am happy to connect!

Originally posted by @Ayana Kwaza :

Hello all,

I am new to Real Estate! I'm located in the Chicago area, and interested in BRRRRR.

I’m looking to connect with people familiar on this topic.

Thanks,

Ayana K.

You may have a few too many RRRRR.  

Before BRRRR - There's something very important that must happen before BRRR starts. Get your finances in place. Get pre-approved for a loan, have cash or a private money lender ready in place. The other part of BRRR that you should have ready at the beginning versus waiting for the end is knowing who you are going to use to Refinance & what are the terms. You should have more than one source in place for refinancing because terms and conditions change over time.

Then you can start implementing Buy Renovate,Rent, Refinance, Repeat (BRRRR)