Do any of you use the brrrr method to scale your real estate portfolio?
here in my area I can find houses for $30-50,000 and they need $20-30,000 worth of repairs. ARV is around $90,000-125,000. It all depends on which side of town. There’s currently one real estate investor in town. He’s buying 8-10 houses per year using the brrrrr method. Off market deals. The bankers call him/agents call him before houses are even listed. Last time i talked to him he has over 50 houses here in town. I actually worked for him when I was in high school. Back then he was building apartment complexes. He pretty much told me I’d never break into the real estate market here in my town because he dominates it etc...needless to say soon as I had mentioned I want to get into real estate and would like his advice he closed the door. I’d say he doesn’t want competition lol!
I’ll have to use a hard money lender but I’m leaning towards this method. Of course I won’t stick to just my area. There’s big cities near me I can find deals in.
what experience you guys have with this method? In your opinion What are the pros/cons using this method? What’s the biggest obstacle you face day in and day out using this method?
Do you use direct mail to find your deals or how do you generally find your deals?
here in my area I can find houses for $30-50,000 and they need $20-30,000 worth of repairs. ARV is around $90,000-125,000. It all depends on which side of town. There’s currently one real estate investor in town. He’s buying 8-10 houses per year using the brrrrr method. Off market deals. The bankers call him/agents call him before houses are even listed. Last time i talked to him he has over 50 houses here in town. I actually worked for him when I was in high school. Back then he was building apartment complexes. He pretty much told me I’d never break into the real estate market here in my town because he dominates it etc...needless to say soon as I had mentioned I want to get into real estate and would like his advice he closed the door. I’d say he doesn’t want competition lol!
I’ll have to use a hard money lender but I’m leaning towards this method. Of course I won’t stick to just my area. There’s big cities near me I can find deals in.
what experience you guys have with this method? In your opinion What are the pros/cons using this method? What’s the biggest obstacle you face day in and day out using this method?
Do you use direct mail to find your deals or how do you generally find your deals?
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