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HowtoReplace2470k year 7

Smart investors know that if you want to rapidly expand your portfolio, you’ll have to use leverage! I’ve watched investors go from one rental property to a robust portfolio in a short few years by utilizing a strategy known as the BRRRR Method.

Let’s say, for example, your Freedom Number is 14. If your plan is to save cash and purchase properties one-by-one, it could take a while. Unless you happen to have a huge savings account or another means to cash, the BRRRR Method might be your ticket to financial freedom!

Here’s how to use this strategy:

Buy – You don’t want to just purchase any house. Don’t simply call up a realtor, and pay over market value for a house plus closing costs. You want to find a property below market value, so that you can add value in repairs. The purchase is very important in this process—buy low!

Repair – Repairing can be tricky, because you don’t want to spend more than necessary, but you still want to create a solid home for your tenant. It’s a balance. Don’t over-upgrade the property. You don’t want to take too long either, because then you aren’t making money from rent checks. Check out my video on how to renovate a rental property.

Rent – Get a tenant in there, so the property begins to produce cash flow. If you’re working with a professional property management team, they’ll take care of this step for you.

Refinance – I suggest approaching a local bank. They’re way easier to work with than big banks on refinances. Local banks tend to have great introductory rates for refinances. Sit down with a banker, talk about the property, and let them know what your goals are. They’ll be able to match you with a great product that meets your needs. You should expect to receive 75-80% of the value of the home.

Repeat – Once you’ve pulled the money back, out purchase your second and third rental properties! Rinse and repeat!

That’s it! I’ve watched many investors successfully pull off this strategy, and I know you can too. If you’re ready to get started on your journey to financial freedom, we’d love to help! Click here to book a free, no obligation call with our team.

 Smart investors know that if you want to rapidly expand your portfolio, you'll have to use leverage! I've watched investors go from one rental property to a robust portfolio in a short few years by utilizing a strategy known as the BRRRR Method.

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