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The BRRRR method is a real estate investment strategy that involves buying a distressed property at a discount, adding value by fixing it up, renting it out, refinancing it to get your money back, and repeating the process. However, there are common mistakes that people make when using this method, such as not buying the property at enough of a discount, not adding enough value to the property, not properly analyzing the numbers, and not having a solid exit strategy. To avoid these mistakes, the speaker advises being conservative when budgeting for rehab and calculating the after repair value of a property, properly vetting potential tenants, and getting approved for a cash-out refinance from a bank beforehand. They also stress the importance of getting started as soon as possible, as the market is becoming increasingly competitive and there is not likely to be a big drop in the near future. The speaker offers free resources on their channel to help viewers grow their rental portfolio and control their future using real estate. Overall, the BRRRR method can be a great way to build wealth through real estate, but it's important to avoid these common mistakes and properly plan and execute the strategy.
The BRRRR method is a real estate investment strategy that involves buying a distressed property at