The Multifamily Real Estate Experiment Podcast

MFREE 064 TRAILER #1 WITH WYATT SYMON: THE POWER OF THE BRRRR

February 18, 2024 Shelon Hutchinson Season 3 Episode 64
The Multifamily Real Estate Experiment Podcast
MFREE 064 TRAILER #1 WITH WYATT SYMON: THE POWER OF THE BRRRR
Show Notes Transcript

And we said, Hey, let's, we're going to use this BRRRR strategy. So for those of you that don't know what BRRRR strategy means, it's when you buy a property, you renovate it, B R R R R, you buy, renovate it, you then rent it, you then refinance it, and repeat. Okay. And the value of the BRRRR strategy for me was the fact that I was able to recycle a line of credit because I was able to buy a property.

Improve the value and then refinance all of the money that was initially invested back out to my parents and pay them back interest on top of it, and then pick up a property for quote-unquote free. And after the proof of concept happened on the first one, then I was like, Oh my gosh, I just need to do more and more and more of these.

And fast forward, I've done it 46 times successfully now. And that's. What's led to, to where we're at.


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WYATT SYMON:

and we said, Hey, let's, we're going to use this BRRRR strategy. So for those of you that don't know what BRRRR strategy means, it's when you buy a property, you renovate it, B R R R R, you buy, renovate it, you then rent it, you then refinance it and repeat. Okay. And the value of the BRRRR strategy for me was the fact that I was able to recycle a line of credit because I was able to buy a property. improve the value and then refinance all of the money that was initially invested back out to my parents and pay them back interest on top of it and then pick up a property for quote unquote free. And after the proof of concept happened on the first one, then I was like, Oh my gosh, I just need to do more and more and more of these. And fast forward, I've done it 46 times successfully now. And that's. What's led to, to where we're at.