BRRHELOCR? Doesn't really roll of the tongue..

[Deren Huang]

MMMMHHHHMMM Success story...

I love the BRRRR strategy, I threw in a little of my own flavor thanks to @Cain Wright. Instead of refinancing it, I will be getting a line of credit on it to use when I please. 

Buy - 65k Thanks @Mark Turney for wholesaling it to me, always love working with you and Steph. 

Repairs - 10,734 (ran into a couple problems, so I'll take it)

Rent - 940/mo (first person I showed it to)

Got a line of credit so I can repeat!

Only a limited amount of photos. I need to get better at documenting stuff.

http://imgur.com/a/pudCj

[Peter Tverdov]

I like doing this as well. You get to keep the same amount of cash flow on property #1, same rate and you're still paying down your principal. Meanwhile, the HELOC you use to buy property #2 gets paid off from the cash flow of property #2. You obviously have to watch rates rising (mine has gone up 1.25 points since I have used it).

I did this strategy 22 months ago. I am making my last payment tomorrow actually and the great thing is now I can use the HELOC again without going through the time and paper work of a CORF.