598: How to "Invest on Repeat" with The BRRRR Strategy

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 19 April 2022

⏱️ 95 minutes

🔗️ Recording | iTunes | RSS

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Summary

The BRRRR method can be taught by no one better than David Greene, author of Buy, Rehab, Rent, Refinance, Repeat, and adorably dubbed “Sir BRRRR” by co-host Rob Abasolo. While David may be a master of BRRRR budgets, schedules, and rehabs, Rob isn’t as familiar with doing full-on buy, rehab, rent, refinance, and repeat rentals. To not only help out Rob but the BiggerPockets audience as a whole, David does a full walkthrough on his latest BRRRR. This hillside property situated in David’s native San Francisco Bay Area has huge potential to become a cash-flowing, equity-increasing deal. David is turning this large home into multiple smaller units that will rent out to A-class tenants and should net him a six-figure equity boost simply by doing these cash-flow-first renovations. David walks through exactly how to find BRRRR properties, telltale signs of a good (or bad) BRRRR deal, how to use the BiggerPockets BRRRR calculator, funding options for your BRRRR (from David's broker!), writing up a contractor scope of work (SOW), and how to build cash flow when there isn’t any to be found. You’ll also hear how David had a surprise run-in with the cops when walking this property. Action, excitement, and lots of equity are all coming up in this episode! In This Episode We Cover: The first signs that a property may be a great BRRRR deal Using the BiggerPockets BRRRR calculator to evaluate deals and raise private capital Financing options you have when funding (and rehabbing) a BRRRR Contractor bids and BRRRR budgets (even if you don’t have rehab experience) Before photos and David’s exact conversion plan to turn a single property into a cash-flowing multifamily The huge wealth-building benefits of getting creative when finding value-add real estate And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Youtube Channel BiggerPockets Calculators Biggerpockets.com Pro Upgrade Code: REPOD21 BiggerPockets Podcast Zillow Realtor.com BiggerPockets Conference and Events Rentometer The 1 Brokerage Building Your “Passive Income Blueprint” Using the Right Real Estate Agent w/ Johnny Hoang Books Mentioned in the Show: Buy, Rehab, Rent, Refinance, Repeat by David Greene The Book on Estimating Rehab Costs by J Scott Connect with Rob: Rob's TikTok Profile Rob's Instagram Rob's Youtube Channel Connect with David: David's Instagram David's Tiktok Profile David Greene Team Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-598 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pocket's podcast show
0:03.5	598
0:05.3	You gotta be dedicated this is not a market where deals fall into your lap or people come to you and beg you to buy a property
0:11.2	And you make up your mind if you want to do it a lot of competition for these assets right now
0:15.3	They're going up in value very quickly rents are going up just as fast the stakes are higher than they've ever been
0:20.5	So now is the time to continue taking action. What's going on everyone? This is David Green your host of the bigger pockets real estate podcasts
0:34.7	Here with a very special episode for you today is all about the Burr method
0:39.7	Does it work in today's market is the Burr extinct did the Burr ever work as anyone ever?
0:44.7	Have you been done a burr or is this more of a concept than a real thing all of those questions will be answered here
0:50.0	Today I am joined by my amazing
0:53.6	Co-host Rob of a solo Rob. How's it going? Hello? How's it going man? Typically I try to come in here with some profound
1:00.7	You know quotes a couple soundbites pontificate have a little bit of banter
1:05.2	But you know we had so much good stuff in this episode that I think we can probably get straight into the nitty-gritty of what it takes to
1:13.3	Execute a successful burr. Yeah to be completely honest with you guys
1:17.0	This is less of a podcast and more of a bit of like a masterclass
1:20.5	So this is probably what you would expect if you paid money to take a course on how to do a burr
1:25.7	Or you wanted to have somebody who is doing a deal that you pay to show you what they're doing where you're getting this all today for free
1:32.1	So in today's podcast we're going to talk about what the Burr method is if you've heard about it
1:36.0	Clarify how that works. We're gonna run you through a hypothetical burr
1:39.5	Where we give you the numbers in the details show you where you would find them and then show you how you can use bigger pockets
1:44.4	Calculators to do the heavy lifting for you and let you know if you should move forward with this burr or not
1:50.1	We're then going to show you how if you'd like you can sign up to use all of those resources all the time
	...

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