Use the BRRRR Method to Create Wealth
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The Burrs method is a way to buy, rehab, rent, refinance, and scale single family rental properties without using any of your own money. An example of this method is buying a distressed property for $100,000 using a private lender's money, repairing it with the same private lender's money, and then renting it out to produce cash flow. Next, a cash-out refinance is done with a small local bank, which gives a loan for 80% of the appraised value, or $200,000 in this case. This results in a check for $160,000, which is used to pay off the private lender's $150,000 plus interest. The remaining $10,000 is owed to the bank, but the mortgage is paid by the tenant along with all other expenses. This process can be scaled and repeated to create financial freedom.
The Burrs method is a way to buy, rehab, rent, refinance, and scale single family rental properties