All Forum Posts by: Jett Rao

The BRRR stands for Buy, Rehab, Re-finance and Repeat.

Basically the strategy is to pull out most of your initial downpayment based on the fact that you are refinancing the property at a higher appraised value. (The appraised value will obviously be higher since you have induced forced appreciation by rehabbing it).

This is my general understanding of the strategy anyway.

Welcome to BP! 

Great topic guys. The sub-500k Alberta market has held up surprisingly well despite the low oil prices. 

Surprising to hear as the rental market here has taken a beating. They should be having no issues to rent unless bad credit or something of the like. 

I'm confused as to why everyone is talking about foreign lending? Was it established that the properties are not in Canada?

Hi Nick,

Sales costs can include realtor fees (7% on the 1st 100k and 3% on each 100k after that - negotiable but this standard), staging costs, lawyer fees and so on. 

The big chunk is usually the realtor fees though.

Welcome to BP Bill!

BP is a great way to connect with local investors. We also have a facebook page. Just search for Calgary Bigger Pockets Real Estate Group and it should pop up.

Also look up Canada REIC. It's a rather large group of investors who hold monthly / quarterly meetings.

Welcome to BP Jakob!

Agree with everything that @Account Closedsaid.

Also the total rent relative to purchase price is quite low. (Think 1% rule and so on). 

Awesome thread and some very informative responses. Thank you everyone for your inputs!