Updated over 9 years ago on . Most recent reply
BRRR strategy and cash Investment more than trippled in value!
We purchased our first investment property(sfh) in philadelphia for 25k in 2014. We put in 8k for rehabbing and are renting for $1140 per month. In March of 2016, we purchased our second property using bank financing for 64k and renting for $1250 per month. Started looking into the BRRR strategy and watched Brandon Turner's webinar on the strategy and found out that my cash property today appraises @ 90k!!! So hyped! GOD is so awesome! Can't wait to "repeat" the process!
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I use the MLS Trend app, Realtor.com, and Redfin. My agent is also good with finding "ugly" houses. Philadelphia has an abundance of them. This particular house took us 90 days to find as we had a very tight budget and only wanted to use cash. It was our first time and had it not been for prayer and our awesome agent, we probably would have quit. With full time jobs, this was tough. After the purchase it took 6 months to fix and get a tenant. Our goal is to give back and help to revitalize the very neighbors that are forgotten so we accept section 8 which is how we are able to get high rents. I will check out Brandon's webinar that you've recommended! Thanks!