Before & After | BRRRR Gone WRONG!
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- เผยแพร่เมื่อ 9 ก.พ. 2025
- Before & After | BRRRR Gone WRONG!
The BRRRR Method is a great way to make a lot of money in real estate and buy rentals without using any of your own money...But sometimes things go wrong during this process.
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Thank you for showing this side of the business as well. Alot of times it's just how good it ends up. It's good to see the downside of when it hurts as well.
Thanks for watching!
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Failure examples are exactly what I want to see. Thank you! (Short term fail overall cash flow is winning I know)
You got it!
Great to see an honest video of a deal gone wrong and what happens in that case
Thank you.
That has been happening to us in our area. Even with a established relationship with our banker...appraisals are lower and bank is getting tight on their LTV.
Short term issue. Keep buying
@SamFasterFreedom non stop as we find them! 🤓
Lol been there and it smells like money 🤣 but seriously the houses most won’t touch often is were you can make a bag.
💯💯💯
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Love this type of video !
Thank you so much! I'm glad you enjoyed the video.
Thank you very much Sam! Even tho you quit youtube please keep the videos up Id like to still go thru them!
This is exactly the video I was looking for. Thanks for breaking it down! I’m surprised at your experience level, you still went over budget. But that’s how you know, stuff happens. And you can never see what’s behind the walls. Thanks for your work and the video
Thank you.
Thank-you for this video. It is the best one I’ve seen on this subject.
I appreciate that. Share with friends that are interested in this kinda of thing!
Love this video. It showed everything clearly. Main point is Reals state is best to invest in , even if your not getting lot of cash flow, the value will go up equity will go up.
Yes
Thanks Sam can we get more of these types of videos with the repair breakdowns before and after a all super helpful!
So you left $5,000 in the deal and make ~$122/mo in cashflow. You’re getting almost 30% CoC return and you’re not happy? That’s elite lol. Congrats and thanks for sharing.
I shoot for infinite returns! (a return with NO investment)🚀
Where was this? Awesome video! About to take the deep dive into BRRRR investing with my HELOC
I learn so much from your channel! Love your content❤
Thanks for the feedback!❤️
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you rock buddy!
thank you
Thanks man!
Amazing videos!
Amazing comment!
when you guys are giving rehab quotes is that just counting materials? do you hire contractors to do the work or do you do the work yourselves?
We started off doing the work ourselves, but quickly learned we could spend time on other parts of the business and end up making more even if we were paying someone to do the rehab.
@@FasterFreedom so the quotes are based off hiring out contractors? Do you have a link to a calculator you use to run all the numbers ?
@7:18 Had to cut into the stack/stak/stlack/ stat ?? What exactly is that and what's it purpose?? And why didn't you leave it (besides later dealing with future maintenance) what would have happen if you would had left it how it was?
The "stack" is the poop shoot of a house👍 would definitely want that functioning properly 🤣
You are highly leveraged.
My Question is HOW do you find investers willing to front you the money for these projects?
Thanks in advance for your input!
Great video!
Thanks!🤘
I appreciate you breaking down the numbers. New RE investor here. I've shied away from BRRRR and flips bc of the horror stories. This one wasn't too bad relatively speaking. Glad you were able to make the deal whole and cash flow. How long did the rehab take?
I am curious when doing a renovation, how do you contract your prices, and how do you get the projects done? I know GC usually can bid a job as a whole, so is that how you usually do it, if so how do you track what went "over budget" when it does? Thank you in advance! Love your content.
Keep good records of your expenses (especially for tax time)
I get multiple prices from multiple contractor until you find some one you can rely on💯
It's never good when you can taste the smell 🤣🤣
Thanks! Great content Very informative. I'm investing in the St. Louis area. Where in st Luis was this property? Looks like a north county property with those numbers.
Wentzville 👍
You say that you use" small banks" to refi and cash out up to 80% in under 6 months. I'm a real estate broker and investor with eight properties and have yet to find any in California. Could you share without me some of your banks that you use? sorry posted on another video the same comment just trying to get a response
You will have the most leverage with the small LOCAL banks..I recommend credit unions and community banks.
If you are still having issues I would take it to the facebook groups in you area and ask around who other people are using. OR BETTER YET use the fb groups to find out where local real estate meet ups are being held. You can network with some active investors and see who they are using👍
the answer you need is out there but it may not be as easy as a google from your couch sometimes you gotta go out and find the answer 💯
I'm not telling you anything you don't already know..Sounds like your crushing it! Keep it up Nick!🔥
Gold!
are your prices with you doing the work your self or hiring the jobs out?
Is brrrr same as heloc. I'm not seeing any difference just change of name
Awesome video. Two questions.
1. Do you have your own contractors that work for you? My random contractor estimates for waaay easier jobs have been significantly more that the 47k you had here.
2. Do you manage your rental properties? If yes, does the cash flow include that?
Hey thanks for watching!
We have investor friendly contractors..(what's that mean) It means that the contractors are good at what they do and get their work from word of mouth NOT from billboards and driving huge trucks covered in logos..(less over head costs = cheaper price)
We have an in house property management team.. so yes it's still an expense but an ''internal expense"
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@@FasterFreedom lovely. Thanks for your response.
Question, so When you do the BRRRR, I have seen múltiple of your videos and you said you never use your own, that you use opm (private money) so my question is, when you have the money of the lender, how do you buy? Under your personal name? Or do you literally have to open up a new entity like an LLC for every single deal?? Because In one video you said something about personal guarantee, and once paying back lender than put that property into llc? But to what I'm understood, when you guy a house you will get tittle insurance, however whenever you change (out of your name) instance in this case, move a property that is in my name, into an llc, people say title insurance is no longer valid but voided, even if llc is under your name or what not, how true is that aswell??
hopefully we see a lot of these highly leveraged operations wiped out in the next couple years
Question, what do you think about LLC? Is it a must to open up an llc for every single house bought to be put into that llc? But don't you also have to apply for IEN NUMBER FROM THE IRS? Plus open bank account, is this true and if so, is this always going to be the case for every single house bought???
LLCs can be a way to protect your assets.. you don't NEED one. but we recommend having one at least to separate your personal assets from the company assets incase something happen legally👍
How are you getting all of this stuff for so cheap? The kitchen in my area cost at least $15,000 and I'm in the boonies of Ohio.
I live and invest in St. Louis. Also, this video was from a year ago when prices were slightly lower.
@@FasterFreedom Is it cheaper using a contractor for the whole house vs. piecing jobs out to different businesses?
I’ve been following this guy for a while now. But I think he should’ve gotten a second inspection and going to a different bank. They knew exactly what they were doing and unfortunately he fell for it.
Tonight I'm hosting a Live FREE Training @7PM (CST)
👉 go.freeopmwebinar.com 👈
Hope to see you there!!
Did all of that get rid of the smell? I'm always weary about that since sometimes it's hard to get rid of it
KILZ👍
Clarifying when you say refinance, you mean cash out refinance, correct
*WAY WAY WAAAAYYY TOO MUCH BLABBERING and unnecessary interjections - rhetoric cringeworthy repetitive presentation - TALK LESS AND TALK TO THE POINT - This was not more than 10 minutes video but it does not even start till **10:30** and still too wordy.*
I disagree, this was a great breakdown.
What cities do you buy in?
St. Louis metro. But I have students in pretty much every market
$5K for $38K in equity on a cashflowing property isn't bad
This sounds like a disaster zone
Use 50% to 99% medical alcohol to get rid of those roaches
Really sad that someone was living there
Roaches will never go away even with professional treatment
Sam, you look exactly like Brad Garlinghouse. Google it lol
..Yeah, I don't see it