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The video discusses how to make a perfect Burrs deal in the current recession and real estate market. The speaker uses a specific property as an example, an 864 square foot three bed one bath house with a partially finished basement built in the mid-1950s, which they purchased for $85,000. The speaker walks through the rehab budget, including the costs for rehabbing the kitchen, bathroom, and partially finished basement, as well as painting the entire house and adding luxury vinyl plank flooring throughout the upstairs. The speaker also explains their specific rehab process, which includes replacing the HVAC system if it has less than three or four years of life left. The rehab total for the property is just over $33,000, but the speaker adds a 10% buffer for unexpected costs, bringing the total to $36,355. Holding costs, including insurance and utilities, need to be factored in and can be calculated using their formula. The speaker estimates the project will cost around $37,355. The video also introduces the rental property analyzer sheet, which is part of their mentorship program. The property they are analyzing is valued at $175,000, but they purchased it for $85,000 and spent $37,355 on rehab and holding costs. The property cash flows $244 a door, and the speaker emphasizes that it is still possible to make good Burrs deals and buy cash-flowing properties without using any of your own money in the current market.
The video discusses how to make a perfect Burrs deal in the current recession and real estate market