Tag Archive for: fix and hold
Intro to BRRRR
Are you looking for a simple, easy-to-use strategy to use on your rental investments? Then we recommend Bigger Pockets’ BRRRR strategy (also known as BARRRR).
BRRRR/BARRRR stands for:
Buy
Advertise
Rehab
Rent
Refinance
Repeat
For a full introduction to this real estate investment method, check out this video from Bigger Pockets.
Take Advantage of the Fix and Flip Escalator
Now that you’ve seen the benefits of the Fix and Flip Escalator, let’s talk about what you can do to take advantage of it!
- Start with what you have and see how you can enhance it. For example, what are your assets and experience level, and how can you use them to accelerate yourself up the escalator?
- Show off your work! Create a portfolio. The more you analyze your project history the more likely bankers and lenders will fight for your business.
- Fix your credit. Your credit should range between 670-800+. If it’s below that, you should focus on fixing it.
- Keep up to speed on the finance world. Be aware of what products are available to support your current and future plans.
- Find people who can help you with the finance stuff. Because, again, math. Ugh!
- Create a roadmap to financial success!
By moving away from an expensive partner and heading toward profit boosting cash, you’re sure to make A LOT more money A LOT faster.
Which means you can start fulfilling all of your lifelong dreams sooner.
