How We Bought 27 Houses at One Time WithOUT Using Any Of Our Own Money | 27 House BRRRR Example
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The speaker and their partner share their experience of buying a package of 27 occupied single-family houses through a wholesaler. The package was initially listed at $2.2 million, but they negotiated it down to $1.5 million. They utilized the BRRRR strategy, which involves buying at a discount, using other people's money, putting in a tenant, fixing up the properties, and refinancing to get the money back out. They paid a high interest rate of 12% to a hard money lender for three months, but were able to break even due to the combined rent being around $22,000 per month. After refinancing, they received a $20,000 check at closing and had $700,000 in equity overnight. The speaker emphasizes the importance of building relationships with banks, private money lenders, hard money lenders, and wholesalers, as well as developing relationships with lenders and banks. They encourage viewers to check out their videos and follow, comment, and like their content. Their goal is to have a $100 million rental portfolio in the next eight years. They also have a video on how to buy your first rental property without using your own money.
The speaker and their partner share their experience of buying a package of 27 occupied single-famil