How He Nets $3K A Month Using The BRRRR Strategy With Paul Singer (Ep 352)
Rental Income Podcast With Dan Lane
Rental Income Podcast
4.8 • 836 Ratings
🗓️ 1 February 2022
⏱️ 25 minutes
🧾️ Download transcript
Summary
On this episode, Paul talks about what has gone right, and how he has overcome some challenges.
We also take a look at a recent deal and go over his numbers. We also take a look at his entire portfolio and review his rent, expenses, and his cash flow.
https://rentalincomepodcast.com/episode352
Transcript
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| 0:00.0 | Inspiring interviews with today's top landlords. |
| 0:04.7 | This is the rental income podcast. |
| 0:07.6 | And now, Dan Lane. |
| 0:09.7 | Probably the best way to buy a rental property without a lot of money is the Burr strategy. |
| 0:15.5 | This is where you buy a fixer upper property for way under market value. |
| 0:20.4 | And when you fix the property up, you've basically |
| 0:23.3 | increase the value of the property. And the amount of money that the property has increased in |
| 0:29.7 | value basically becomes your down payment. And Paul, this is what you've been doing to build out |
| 0:36.2 | your rental portfolio. |
| 0:39.4 | How has it been going so far? |
| 0:41.2 | It's been going absolutely fantastic. |
| 0:45.1 | I think using the Burr Strategy, I had to use very small amount of my own money, |
| 0:48.3 | and I've been able to really build my portfolio using other people's money. |
| 0:49.1 | That's awesome. |
| 0:50.0 | I love it. |
| 0:52.3 | Have you had any troubles along the way? |
| 0:54.6 | All kinds of troubles. I mean, the first one I did set empty for four months because I couldn't find a single contractor to come out and even look at |
| 0:59.0 | it. I've had all kinds of rehab issues. And most of my burs have not turned down perfectly. I've had to |
| 1:04.4 | leave some money into each one of them. A lot of times when you hear stories from investors that are |
| 1:08.7 | using the burr strategy, it could almost sound like |
| 1:11.3 | everything always works out perfectly. But that's not always the case. And I think on the podcast |
| 1:17.2 | today, I've got a pretty realistic view of what it's like to do the Burr strategy. Things haven't |
... |
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