BRRRR 101 (Basic BRRRR)
ฝัง
- เผยแพร่เมื่อ 19 ก.ย. 2024
- In today's livestream I breakdown the BRRRR Method!
*Unfortunately we ran into technical issues and were not able to livestream this to TH-cam today so this is a replay of the live webinar!
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Matt McKeever is a CPA, CA and Real Estate Entrepreneur in London, Ontario. On this TH-cam Channel Matt discusses a variety or real estate and personal finance strategies and tactics. Including: How to BRRRR Real Estate, The Importance of Investing for Cash Flow, How to Reach Financial Independence Retire Early, Safe Withdrawal Rates, Frugality and Reducing Personal Consumption & Embracing Minimalism.
Matt began investing in real estate at age 25 by purchasing a student rental near Fanshawe College.
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Thanks Matt & CFT
FYI - in Calgary if you want to convert a suite into a short term rental, you need a business licence and in order to get the business licence the suite has to be a "legal" suite
Awesome video Matt. I'm from London, Ontario. Just closed the deal on my 3rd investment property. Targeting to get into small multi-family units (BRRRR). Hopefully some day I will get to meet you in person or speak with you to learn from your knowledge and experience. Cheers Mate!
Thank you Mr. McKeever!
I'm here for BRRRR strats :3
Brrrr 🥶 is where its at! The #1 investing strategy today.
Wow this is solid content
A good time heavy player
🔥🔥
Matt’s Master Class
How do you officially establish the value at time of refinance?
Appraisal
your market is nuts. Buying a property for 200k that you can rent for 3k a month? crazy
Crazy good or bad? I’m sincerely asking as I’ve had people tell me we’re over paying and other people thinking our returns are too good to be true.
@@CanadianRealEstateChannel thats crazy good, i couldnt do the 1% rule where i live, something worth 200k could never rent for 2k a month here
@@CanadianRealEstateChannel I find this hard to believe that you can rent an apartment in a duplex in London for $1500. Do you have real examples?
same here a 350k house doesnt even rent for 2k
200k property can rent 1000$ where i live. With COVID I see vacant for 1 month each year. Effective rat drops to 900$. Deduct vacant, advertisements, cleaning. If use realtors for finding tenant, effective rate @800$.
How to refinance with doing all of these and at the same time have a 100k annual T4 or T4A to refinance the next one? After refinance, the loan on the refinanced property will increase so the TDSR will drop so traditional big 5 will walk away. Then the game is in the hand of the mercy of private lenders. When the internet rate increases to 5-6% and the rent to cost ratio is less than that then it will be at the mercy of market. If property price drops then that is the game over. A gamble on the property price increase in essence.
No it really isn’t. Your assumptions are flawed. There’s a version where each property improves your debt service ratio 🤦♂️
@@CanadianRealEstateChannel 👍. I will need to listen it again.
Matt: Does Quartz countertop increase the valuation of the property by a huge amount. I have an Ikea butcher block CT put on currently, but if a quartz CT is going to increase the valuation by more than 5k atleast then I might go that route. Just wante dto know how appraisers work
No, you get back around 75% of the value if you renovate your kitchen and sell. The real advantage of doing kitchen/bathroom renovation before selling is it will be most likely to sell faster.
To add value to a house, you need to fix problems or change configurations because adding beautiful and expensive assets wont add more value than the assets worth
Better late than never!
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First
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