By Condo Culture
If you are thinking about real estate investing for the first time, it is important to understand the various strategies to determine which one may be best for you. This week we take a look at the BRRRR (buy, rehab, rent, refinance, repeat) method.
The goal of a successful BRRRR is to identify and BUY properties that may be below market value, REHAB to increase the value of the property, RENT for a positive cashflow, REFINANCE the investment at the new higher market value and REPEAT the process using the money from the refinance. For a quick refresher on refinancing your condo check out this earlier blog post, The Power of Leverage.
In this video, Condo Culture Expert Tim Bolton and condo investor Joe E take a look at the numbers and discuss how he was able to BRRRR a condo in the Waterloo region, why he feels condos are less risky than single detached houses when using the BRRRR strategy and the role Condo Culture played in ensuring a successful BRRRR.
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