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904: Does the BRRRR Method Still Work in 2024?
For years, the BRRRR method (buy, rehab, rent, refinance, repeat) was every real estate investor’s favorite strategy. And it’s easy to see why. Using this simple formula, you can buy an outdated property, fix it up, lock in some solid equity, and then refinance, having the bank pay you back all the money you put into a deal. It sounds foolproof in theory, and up until 2020’s hot housing market, it essentially was.
But things have changed. Home prices are higher than ever, mortgage rates are still double what they were during 2021, and everyone and their grandma now wants to invest in real estate, making more competition for these outdated homes. So, one big question presents itself: Does the BRRRR method still work in 2024? And, if it does, what are some ways to beat the competition and score a seriously good deal, no matter the mortgage rate?
Well, we’ve got the man who literally wrote the BRRRR book on the show—our very own David Greene! David is giving his time-tested insider tips on how to build wealth with BRRRR, create more equity on your next home rehab, which new loans make BRRRR much better in 2024, and why you CAN’T rely on cash flow anymore, but you can rely on something MUCH more beneficial. Ready to get your first (or next) BRRRR done in 2024? This is the episode for you!
In This Episode We Cover:
The BRRRR method (buy, rehab, rent, refinance, repeat) explained
Whether or not you can still do a BRRRR in 2024 (and if it’s even worth it)
New types of loans for BRRRRs that make buying and cash-out refinancing MUCH easier
Cost-cutting rehab tips to make sure you don’t go over budget on your next home renovation
The not-so-basic “value-add” potential you NEED to look for in your next BRRRR property
Massive tax benefits, long-term wealth, future cash flow, and more upsides of doing a BRRRR in 2024
And So Much More!
Links from the Show
Find an Agent
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BiggerPockets Youtube Channel
BiggerPockets Pro Membership
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
David's BiggerPockets Profile
Rob's BiggerPockets Profile
Grab The BRRRR Book
How to Invest in Real Estate With the BRRRR Method
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-904
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