All Forum Posts by: Akshay Bhaskaran

I was wondering would it ever make sense to do the BRRRR method without the rehab part? Not on every single deal...but when starting out have a property in the portfolio just rent for a couple years and cash out refinance with newfound equity form rent. If anyone else has had success with a similar strategy I would be very interested in that.

In my understanding, the major drive behind doing BRRRR is to build equity. Natural appreciation at 2-3% per year is fine, but then through "rehab" you'd be able to force-appreciate a home to its maximum potential. Another advantage of BRRR is that you can use hard money or private money lenders to fund your project, and you can pay them after refinancing the appreciated home. I'm an investor who got started in turn key (where the property is ready, no rehab, and place the tenants) -- but turnkeys appreciation takes time. If you want to make money in RE, I think its through Equity Building, and that happens through property immediate appreciation, and that happens through "rehab".

1 Vote

Houston, Texas

Hi,

If any of the investor here is doing a BRRR deal currently in San Antonio or Houston - requesting a small help from you.

I would like to learn the entire strategy from start to finish on how you find the property, how you deal with contractors, how do you decide the upgrades, understand the entire process practically, ask questions, and have hands-on lessons.

I'd like to be a silent spectator in the process without disturbing you or the team. I AM READY TO PAY YOU to be a part of this project, and learn everything practically, rather than spending thousands of dollars to online RE Gurus.

Please let me know.

Thanks.

0 Votes

Hi,

If any of the investor here is doing a BRRR deal currently in San Antonio or Houston - requesting a small help from you.

Please let me know.

Thanks.

0 Votes

Hi,

If any of the investor here is doing a BRRR deal currently in San Antonio or Houston - requesting a small help from you.

Please let me know.

Thanks.

2 Votes

San Antonio, Texas

Hi, I'm planning to purchase a property in San Antonio, and in need of a Professional Appraiser who can work with me and help me clarify the questions I have.

Thanks in advance.

1 Vote

San Antonio, Texas

Quote from @John Morgan:

@Akshay Bhaskaran

I'm in the DFW area and it's extremely hard to find good deals up here lately. Go to RE meetups and you'll find a bunch of wholesalers to get on their list. Or sign up with new western for their deals. However, they all lie about the ARV, rehab estimates and comps. You really need to know what you're doing or you'll get ripped off. And finding a trustworthy contractor that won't screw you over isn't easy either. But meeting other investors at these meetups is key. Your network is your net worth. Get to know others in this biz and leverage their help. Good luck!

Yes, you’ve exactly listed out my fears about ARV and getting ripped off from contractors. Thanks much for the input!

1 Vote

Houston, Texas

Looking for finding some BRRR properties in Texas - preferably Houston, Dallas, San Antonio, and San Marcos. How do you all find BRRR properties? I see a lots of ways like Drive for Dollars, Talk to Wholesalers etc., but need help with any online tools or sites where I can find a BRRR property which shows the rough rehab estimate along with ARV.

0 Votes

Houston, Texas

Hi, I'm beginning to start my BRRR project for which I'm looking for some General Contractors with previous experience working on similar BRRR projects. Thanks.

0 Votes

Houston, Texas

Hi,

I'm a new investor looking to getting started with BRRR. I already have 2 SFH in Georgia but those were turnkey and ready to move.

I understand what BRRR is - you BUY a property, you REHAB it, you RENT it out, you go to the bank and cash-out REFI it, pay back the PML and REPEAT.

BUT, I've a couple of practical questions that I'm seeking help from the BP Community:

1. Contractor problem: I have a full-time W2 job, and won't have time to spend with a contractor on rehabbing the property. Also need great help with finding a good contractor for the same.

2. Out of state BRRRR: If it is out-of-state property, I'm not sure if I can be there until the purchase to rehab is completed

3. Tools to find deals: I'd like to have access to properties with detailed numbers. For example: purchase price $100,000, rehab cost $10,000, and ARV is $160,000 or something like this. What tool you all use to find properties with numbers like this? I've heard about https://www.investorlift.com and https://www.getprivynow.com

4. Creative financing: Need more guidance on creative financing like sub-to, or seller financing where I can enter with no money down.

Thanks.

1 Vote

Austin, Texas

Quote from @Account Closed:

Quote from @Akshay Bhaskaran:

Current situation: I live in Austin, TX and have an investment property in Atlanta, and almost closing on my second one. Both are $250K, and I'd to put 25% down which is $62K for each.

Problem: Though I'm almost proceeding on the loan for property # 2, my lender (mortgage broker) has started bringing up words like cash reserve, DTI is more and stuffs like that. He says increase your annual base pay

Question:

- People who are still having a W-2 job like me, how are you scaling your portfolios?

- Do you need to come up with 25% down every time to get a property?

I see terms like use OPM, buy RE with $0 down, but none of those gurus tell the actual idea without me enrolling in their $2000 master course - which I don't want to.

So, finally, coming to this BP community to learn more about creative financing, how to grow/scale my portfolio. Thanks all in advance.

There is so much available on youtube regarding creative financing it has replaced "funny cats" in popularity.

Generally, yes you put much more down if you are W2 and going a "traditional lender" route. It does slow things down a lot. But, usually you are buying from the MLS with an agent's help so you are spending less time on each puchase.

It is a lot more work to find "off market" deals that make sense, with sellers who will do creative financing. It's the repetitious phone calling to find those deals that wears people out.

People want the benefit of creative financing without having to do the work.

I think I heard that less than .0001% of people who sign up for those guru classes follow through and actually do a deal. Most people join the groups and end up being investor wannabes who feel better because of the hype.

I got started years ago by buying a book called "Nothing Down How To Buy Real Estate Little Or No Money Down" By Robert G. Allen which now sells for less than $10. and, if you don't read, use youtube

Thanks for the comments, let me try reading that book.

0 Votes

Atlanta, Georgia

All Forum Posts by: Akshay Bhaskaran

Akshay Bhaskaran has started 31 posts and replied 68 times.

Post: Do you need rehabs for successful BRRRR ?

Post: Would like to learn practical lessons from Investors here

Post: Would like to learn practical lessons from Investors here

Post: Would like to learn practical lessons from Investors here

Post: Looking for Single Family Home Appraiser

Post: Properties for BRRR

Post: Properties for BRRR

Post: Looking for a GC

Post: Looking to get started in BRRR

Post: Need advice on creative financing