Buy, Rehab, Rent, Refinance, Repeat is a thorough how-to real estate investment book whose tips are solid and compelling.
In Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Investment Strategy Made Simple, real estate investor David Greene breaks down the five aspects of his investment approach’s acronym, illustrating each with personal anecdotes and practical advice.
As the acronym indicates, the BRRRR strategy isn’t aimed at investors who want to buy a few properties for extra income. Rather, the system is designed for those who want to expand their property portfolio and the cash flow that comes from it exponentially over time.
The key difference between the BRRRR system and traditional real estate investing is the way property is purchased. Rather than taking out a mortgage at the beginning of the process, investors use cash—either their own or money from other sources—to buy undervalued properties before rehabbing them and renting them. It is then that they take out loans through refinancing, which allows them to recover their initial investments and put the cash into another property purchase.
The introduction and first chapter compare the BRRRR strategy to traditional real estate investing. They are an easy-to-understand overview of how each approach works. This first section is a clear road map for the next five parts of the book, which cover the processes of buying, rehabbing, renting, refinancing, and repeating in detail. The deliberate organization of the book, and the fact it starts with a straightforward overview, keep it approachable.
Personal anecdotes pepper the book, illustrating the concepts with stories from Greene’s own real estate investment experiences, which did not start with the BRRRR strategy, but involved saving the money from extended work weeks for years before buying, traditional financing, and direct property management. Greene covers his own failures to show what he learned from them, and his identifications of the pitfalls of property investment are clear.
Tips will help savvy investors to save money and time. The book’s tactics and examples, including email templates that show how to systematize contacts with lenders, property managers, and potential partners, are valuable resources. Less effective are the book’s extended analogies and fictional stories, such as one about a fisherman whose failure to create systems and build a trusted team cost him far more than money.
Buy, Rehab, Rent, Refinance, Repeat is a thorough how-to real estate investment book and a solid, understandable overview of a methodology that could supercharge investors’ incomes.
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