Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple

by David Greene

My story would go something like this: “Well, I’m a police officer who started working lots of overtime and using the money to buy rentals. Because it took so much time and effort to save the money to buy these properties, I obviously value them very highly. They are representative of hours and hours, years really, of lost sleep, damaged relationships, and unhealthy living. I gave it all up to get the money to buy them, so the way they perform is really important to me! “Now I’m looking to buy one to two properties a month. If you do a good job with the properties I give you, I see no reason why I couldn’t bring them all to you. What’s most important to me is you are brutally honest. Anyone can manage a property halfway decently and collect rent. I need more than that. I need advice on which markets to invest in, which parts of town to stay away from, what kind of rehab work I should be doing, and who the best agents, lenders, and rehabbers to work with are. “In the future, I plan on buying three to five properties a month. I’d like to own 75 to 100 units in the next ten years, and I’d prefer to use the same property manager for all of them. What’s important to me is that my PM is handling all the issues I can’t, and making sure my portfolio is profitable enough for it to make sense for me to keep buying. I need repair costs to be low and for rents to be raised every year consistent with the market average.”