Oct 21, 2021
Summer is over - Fall is upon us. The nights are getting chilly. It’s time to break out the BRRRR method. Wait - is that a cold weather investing strategy? We will set the record straight today.
The BRRRR method is cool. Pun intended. I was doing this long before I knew it had a name. But it’s still cool. You can buy unlimited rental houses with the same pot of money over and over again - if you do it correctly.
Our guest today, Nate Barger, has done it hundreds of times. He has perfected the process to the point that he now has a course just on the BRRRR method. The spreadsheet analytical tool that comes with this is worth 5 times the cost of the course. You are going to want to hear this interview. And after hundreds of BRRRR houses, Nate has moved on to apartments and hotels. Yes - hotels. More on that coming up later this year.
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- Flipping America Funding is live! Monday May 16th.
News and Resources:
- https://www.millionacres.com/real-estate-investing/rental-properties/the-brrrr-method-explained-getting-started-in-real-estate-investing/
- https://www.businessinsider.com/real-estate-investor-rental-units-using-the-brrrr-method-strategy-2021-10
- https://www.marketwatch.com/story/real-estate-investing-can-be-a-strategy-to-save-for-retirement-2021-01-01
- https://www.einnews.com/pr_news/551693990/dominic-kosteris-teaches-investors-around-chicago-the-art-of-brrrr
Mindset Moment:
Let’s talk about credibility.
Using the right word.
bit.ly/reiterms
Questions from Listeners:
- Lynette, Milwaukee, WI, “Do I need to be a
realtor in order to be an effective investor?
Pros: Access to MLS, Set up your own searches, Best data for CMA’s, Save money on commissions
Cons: Cannot pay referral fees to unlicensed individuals, disclosure requirements, continuing ed, much knowledge unrelated to investing. Selling your own flips is like fixing your own flips if you’re a contractor. What you save is offset by the time you spend doing things you could and should be paying someone else to do. - Kimberly, Sandy Springs, GA “I’ve heard you mention that you have deals coming to your inbox every day. How do you do that?”
- Lilly, Villages of Ocala, FL, “My husband and I are so tired of our rentals, but we are not tired of the cash flow. We are both in our late 60’s. We’d like to sell them to end the headache but aren’t sure where we would put the money. Any suggestions?
-
- Perhaps not sell - perhaps owner finance?
- Not an investment advisor, but as a suggestion, you could always look into private lending.
- Chanterelle, Long Beach, CA, “I want to buy some rental properties in Atlanta. Can you connect me with resources there for buying and for property management?”
- Larry, Atlanta, GA “I want everyone to know that the deal I brought you two weeks ago is now sold and closed. You said you would help me get it sold and you did. Thank you.” (The power of networking)
- Celia, Hammond, IN, “I listened to what you said and went out and made offers on three houses. Two of them got accepted! What do I do now? I don’t have the knowledge or ability to fix and flip them, but I think the numbers are right, according to what I’ve been hearing from you. Please tell me what’s next?”
Motivational Quote:
“When you invest, you are buying a day that you don’t have to work.”
Aya Laraya