Buy Rentals With No Money Out of Pocket | OPM Real Estate Strategies
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The video discusses how to invest in real estate without using any of your own money. The speaker emphasizes that you don't need to put 20% down on rental properties to build long-term wealth. He explains the burr method, which stands for buy, rehab, rent, refinance, and repeat. This method allows you to do long-term rentals without putting 20% down. The speaker adds his own twist to the burr method, which he calls the burs method. He explains that you can buy rentals and add cash-producing properties and equity without using any of your own money. To do this, you utilize other people's money, such as hard money lenders or private money lenders, to buy a property at a discount. Then, you rehab the property using the same people's money to fix it up. You then rent the property at market price and take it to the refinance stage, where you take the property to a small local bank. The bank will appraise it and write you a cashier's check for up to 80% of that appraised value. You pay back your initial lender who lent you the buy and the rehab plus interest. The bank that wrote you that check has a mortgage on the property, and you owe every single month until it's paid off. The BURS strategy allows you to make money and generate passive income without using your own money. To find a good rental property at a discount, you should get to know other investors in your area and network with them.
The video discusses how to invest in real estate without using any of your own money. The speaker em