All Forum Posts by: Jake Baker

We do 20 Flips/BRRRRs per year and use these tools:

Underwriting - DealCheck

CRM - ClickUp

Project Management - ClickUp

Bookkeeping - QuickBooks Online Plus

Team Communication - Slack

File Storage - Google Drive

@Jimmy Alexander

My first property was a primary residence that I house hacked.

Second property was a rental property that needed $8k in repairs.

Third property was a flip that made a modest return.

Now we do 20+ flips/brrrs per year and raise money for them.

@Gaurav Banka

I used @Maxwell Ventura for my STR in Little Italy and he was great.

@Jonathan Palumbo

I agree with @Ko Kashiwagi regarding the cash out portion. 

Some BRRRR nuances to be weary of:

It is easy to underestimate your rehab budget. - make sure to get bids from multiple contractors.

It is easy to overestimate your ARV. - Have an agent pull recent comps for you

It is easy to underestimate the timeline. - whatever a contractor says, add 4 weeks.

@L James

Every market has good deals. Some markets are better for cash flow, some are better for long-term appreciation. 

@Jojo Pembridge

This is a great opportunity to do a live-in BRRRR. You will get the best financing. You can finance with either conventional or hard money. Renovate over 6 months. Refinance in to conventional loan as a primary for good long term debt. I have a few condos in downtown areas and they have been great investments.

@Gabrielle Samprucci

Consider finding private money to fund the purchase and rehab. These lenders might be more open to financing smaller amounts, especially if they see potential in your project and trust your investment acumen.

Seller Financing - In some cases, the property seller might be willing to finance the purchase. This can be especially true for properties that are harder to sell or need significant work. Negotiate terms directly with the seller to create a mutually beneficial arrangement.

@Angelica Walker Check out the agent finder. I found my first contract through a referral from an investor friendly agent that I met on BP. 

@Angelica Walker I agree that you should look into some meetups. https://www.biggerpockets.com/forums/521 

Austin has a ton of meetups. 

@Ashley Kroft

Great points by everyone! The BRRRR method requires careful planning, thorough research, and sound financial judgment. By understanding and correctly calculating the numbers, finding the right properties, and building a strong team, you can successfully execute this strategy and grow your real estate portfolio.

Good luck with your investing journey!