“BRRRRing” His Way to Financial Independence EVEN in a Tough Housing Market
Description
Can you still find great deals in today’s cutthroat housing market? Of course! But you may need to go off the beaten path. Rookie investor Karl Denton looks beyond the MLS (multiple listings service), focuses on undervalued and distressed properties, and even does his own home renovations to create value. If he can do it, YOU can, too!
Welcome back to the Real Estate Rookie podcast! Karl has a superpower—finding hidden gems that other investors overlook. And he’s not doing anything that you can’t. Even as a full-time firefighter, he still finds time to attend meetups, go to foreclosure auctions, build his own lists, and contact homeowners about their properties. So far, this strategy has allowed him to find, buy, and fix three properties in three years!
Want to replicate his success? Tune in as Karl walks you through each step of the BRRRR method (buy, rehab, rent, refinance, repeat). Along the way, you’ll learn where to find undervalued properties, how to manage out-of-state renovations, and when to do a cash-out refinance. You’ll also hear about Karl’s big pivot from long-term rentals to short-term rentals and the huge cash flow boost that came with it!
In This Episode We Cover:
How to find, fund, and fix distressed or undervalued homes in 2024
Why the BRRRR method still works in today’s challenging market
Three ways to buy properties with tax liens (and why they make GREAT investments)
Crucial tips for managing an out-of-state home renovation project
When to pivot from one investing strategy to another based on your market
Why you should focus on stabilizing your real estate portfolio before scaling it
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Buy the Book “Buy, Rehab, Rent, Refinance, Repeat”
Find an Investor-Friendly Agent in Your Area
Making $300K+ Profit Per Rental and Scaling FAST with “DADUs”
(00:00 ) Intro
(00:46 ) Buying His First Property
(03:55 ) The BRRRR Strategy
(11:37 ) Karl’s Portfolio & Auctions 101
(20:40 ) DIY & Out-of-State Renovations
(29:54 ) When Should You Refinance?
(33:55 ) Switching to Short-Term Rentals
(41:35 ) Revenue & Tips for Rookies
(47:47 ) Connect with Karl!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-482
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