BRRRR Investment Property From Start To Finish! ($141,000 Profit)
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- Опубліковано 21 січ 2021
- In this video Tarl Yarber takes us on a property walk through before and after of this awesome BRRRR investment property that he bought, rehabbed, rented & refinanced for a $141,000 profit!
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@@paulbarronnetwork3025 Investing in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard will be the wisest decision but it’s really difficult to understand the market as a beginner
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“A gentleman that enjoyed the company of others, that also enjoyed doing a lot of drugs.”
Hahah, you have a way with words sir!
I love seeing easy to understand breakdowns like this. Please provide more guys I love yall
These types of videos are amazing. Invaluable
Thanks Tarl. It's always a pleasure watching your content!
happy you liked it!
I can imagine a video of the crowd cheering as you cleaned up the yard!
I wish we got that on video..or even pics..but we missed that opp
Speaking as someone who owns three rental properties and makes good money… Show me the proof or I don’t believe you! Show me the mortgage papers. Show me a rental check boiii. Nobody makes $141k on a rehab anymore
This is incredible.
thanks!
Thank you, Tarl! Phenomenal work in laying this property out and putting it into understandable terms. I always enjoy your podcasts.
Thank you --great video. Super helpful to hear how you rehab with the finishes (countertop, floor, paint colors, etc). Helpful to see the breakdown financially. What a great BRRR!
Awesome presentation. All the facts, numbers, and totally interesting. Thanks!
Great vid! i love the before and after shots! this is one of my fav vids! thanks for posting this!
awesome! Glad you liked it!
Wow so glad I found your channel watching for hours now so much knowledge thank u
Thank you for showing us this and going in depth on the details.
Thanks for this! Love how you go into details
This was really good. Very detail breakdown. Thank you!!!
I love your videos. You explain everything. Nice. I hope learn soon
That ~grodge~ is really bringing a lot of value to the home.
Great segment, nice to see the numbers and the whole project.
Thanks!
At this point I think I'm a Tarl fan boy. Guy's vids are absolute gold!
Awesome! Thanks!
Awesome Video! Thank you so much for making this!
You're welcome!
The sarcasm level is high...lmao! Thanks for sharing your passion, this was great. Liked and subscribed from a small UA-camr comedian. Excited to watch your journey and creations 😃
glad you liked it!
Thank you for the advices and the video
2018 was a great time to buy, good timing brother
thanks for that tip on oil based kilz
Great info! Thanks for sharing.
Absolutely remarkable! One day I’ll be as successful as you!
Great 👍🏼 breakdown 😆🙌🏼❤️✅love this video !!
Glad you loved it!
Thank you for this good information!
As a kid I was obsessed with HGTV, now as an adult this is WAY BETTER THAN HGTV 🤑
Ha! Thanks!
This guys has great content
Great breakdown! Only thing I saw missing was the calculation for holding costs during that 5 months from purchase to refi.
they were accrued in the payoff of the private lender note when refi'd
Absolutely 1031. Prices are going to skyrocket Multifamily!!!
Awesome stuff
Great video Tarl. We just did our first 1031 exchange a month or 2 ago. It was definitely worth doing.
Anyway, thanks for the great content. Hopefully we can connect at the BP Con in 2021.
Awesome congrats! Hopefully there is a bp con again :)
More more more!!! I want more videos
Awesome content. The only thing I think would've been great if you had shared is how you found the deal. Overall, congrats! You killed it! :)
More like this please!!!!!!
Interesting to see how the habit of flipping was interefering with considering other options.
No question, Tarl Yarber is the best real estate educator on UA-cam. Why do I say this?
1. Highly experienced/successful with over 500 flips and currently owns many properties
2. He is not trying to sell you anything.
3. Provides great detail on all of his transactions.
4. Seems like an overall good guy who is not boring to listen to.
If there is someone better than Tarl, please me know. Brandon Turner is a good guy too, but he does not have the experience and his videos go into very little detail of any of his or his guest transactions.
Thanks
Great video, Any tips with using contractors and a budget template for BRRRR?
Good Video (as always) 👍🏻
Thanks!
Tarl Yarber can you please create a video step by step for the 10-31 exchange. How you found the other house, the timing.
Nice profit!!
SOOOO GOOOD
Nice work 🎇✨🎆
That's a lot of work but totally worth it snd the neighbors are happy.
yea also boots property value as neighbors can put in a good word
Good video! Great Breakdown! Love seeing how the numbers work out. How do you go about a hard money lender to give you $195K for a drug house? Did you have to put anything down?
Base on comps you get the money. They do appraisals before to know as well.
this story is INSANE
Amazing video.
Love the shirt. Where did you get it?
So good
So, looking at the rental calculator....1) As an investor...how "important" is it that the Cash on Cash ROI is 8% for the property to be worth investing in?? 2) What should the Cash on Cash ROI be or ideally be? 3) How does one find distressed properties in good / quality neighborhoods?
After 5 mins in hearing the stories. I would be out throwing a party to after the RV was gone and it was no longer owned by the previous owner.
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Tarl the biggest question is how did you get this property in 2018 for a steal? Did you cold call the owner, mail, or use a realtor to find it, or put out signs? BRRRR is only as good as the price you buy it for ... it's great that you got it for the right amount, but the secret is in how to get it at that price. Would love a video of how you found this deal, analyzed it, and pulled the trigger to invest. Thanks
IF I RENT A HOME FROM A CHURCH, AND CHECKS HAVE CHURCH NAME WRITTEN ON THEM CAN I WRITE THAT OFF ON MY TAXES? TY
@@Paragon_Reason that's a question for an accountant.
Thank you so much for this video. The only thing I’m curious about, is what was the interest rate for that lender?
Hello I love your show. We wouldn't we did our shower just like you white wood trim pretty much identical but we used white grout and it turns yellow what color of grout do you use? And thank you
This awesome
The first house I had to buy looked exactly like this back in 2006 in Yelm
I learned so much with this video! Thank you so much. Quick question: did you put a down payment on this property? If so was it your money or someone else’s?
it was someone else’s. That’s what hard / private money lender means
Thanks for the breakdown, very easy to understand. Are you willing to mentor a “green” Real Estate Investor in the Tacoma area?
I didn't know you can use 1031 exchange on rental property. I thought you had to live in the house than 1031 and live in the next property. You telling me I can do 1031 with rental properties. Wow . Yes early retirement coming up. Thanks for the information
You cant live in for a 1031
Great 💯
Tarl how did u find a deal like this with this much potential for forced appreciation and equity. I’m a new investor would love to hit a grand slam like this
Any advice on how to BRRRR a school? We have an abandoned school in a highly desirable area in my neighborhood, and the community would love to see it up and running.
Wowww.... Which lender did you use for the rehab ? The settlement statement showed... you financed the rehab and you got lump sum of cash at closing?
Over 600 flips🤯
Could you break this down using the BRRR calculator.
Great video and info. Two questions. How did you do all that rehab for 65K? Are you a GC yourself that does all your own work and labor costs are not included the in 65K? Thank you for sharing, love these videos
There’s only two possible answers to that question. Either the video is fake and he didn’t really make that much of a profit… Or he is one of those scumbags that hires unlicensed or small contractors on purpose and then doesn’t pay them at the end, for work they did
Add FYI I own 3 rental homes and make about $1000 cash flow a month per home… And I’m a contractor… But there’s no way you make $140k profit on that size of house. Even if I used my employees & subs directly I wouldn’t make even close to that. Video is sketch
In my opinion, buying and holding is how you make a ton of money. It’s working great for me. But you DO need a good income from your job/biz, to be able to invest in real estate in the first place. I feel like the BRRRR crap is a scam, tbh. They never show any proof
@@charlesg7926 and overly complicated..
Like Charles said, BRRRR is only good IF you have a high income. If you are in real estate 100%, then you NEED to flip homes for income and BRRRR some homes for longer term investing. He probably sells a BRRRR course which is why he pushes it so hard 😂
This work exceptional well with your method at this current market. What happens if the economy have a down turn? There are so many variable to get everything right. You are correct in that by holding you make more money but It make me nervous that another 2008 recession could happen again.
Awesome I need to work with you
I have never heard of a concession. Does anybody know about his being done in Canada? What are the financial / tax implications? Is the concession written down at the notary?
What happens if you don't get another property lined up before the 1031 window expires?
Wow, codes must not be very active there.
The BRRRR method works good when you already have houses that were flipped. If you BRRRR 100% of your houses, you end up with very little income for the first few years until you sell the first house. Nobody is living off a few hundred dollars a month until they build a portfolio of rental properties that could take at least a year or 2.
Flip the first few houses for massive income gains and then start renting them out.
If you were to go back in time, would you still sell it or keep it?
thermostat near fireplace?
people out here burning 40 000 like it's nothing
I'm in Indiana, interest rates pretty damn low ...Will the brrr strategy still work with lower interest rates??
It works better with lower interest rates as your PITI will be lower on the same priced property
How did you cash out the 71k at the purchase ? I’m confused
Don’t know if I’ve ever seen a meter right by the front door, but I live in the southern US.
yeah weird spot.
Yeah, it was super weird to us too when we bought it. Not sure why it was there, but thats how we bought it. Too much to move it and not worth the reward
The problem is hard to find a good deal in Bay Area of Ca today.
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+1 (......8...0...5) 8....7...4-....2....7....8..6..
She's excellent at what she does, tell her I referred you to her.her strategies are top notch💯💯🇺🇸🇺🇸
So just wanting to clarify that there was about $11806 in holding costs with the hard money lender? Based on the $206,806 original lender note payoff minus the $195k original “total borrowed”?
thats correct!
I have my own real estate business but I struggle when it comes to structural management & numbers. Can someone point me in the right direction to develop systems (KPI) as well as finding someone to hire help me find deals and structure the deals ?
Are you putting 20% down on that private money ?
The better question is- what were the closing costs on the refinance? Just curious to understand 😊 brain is having trouble running the numbers
Closing costs on refi were $9687?
How did you pay back the mortgage you got after you did the BRRRR doing the 1031 exchange?
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+1 (......8...0...5) 8....7...4-....2....7....8..6..
She's excellent at what she does, tell her I referred you to her.her strategies are top notch💯💯🇺🇸🇺🇸
how much do those interior doors cost? Those look like sturdy doors
They are hollow core pre-hung doors. In 2018 we bought them for roughly $100 a piece. They cost more now today though.
Lets say you got a hard money loan, finished the rehab and rented out the property. Where would you go to do the refinance? Dont the bank say you are too risky cause you have too many properties or your debt to income ratio is too high.
Wait 90 days to 6months to do the refinance with your bank or credit union. Good enough time to see tenant paying. Some hard money lenders offer refinance.
How could they sale that low for 125k ? What was the asking price ?
IF I RENT A HOME FROM A CHURCH, AND CHECKS HAVE CHURCH NAME WRITTEN ON THEM CAN I WRITE THAT OFF ON MY TAXES? TY
Tarl, just started watching you. Great content! Working with realtor, 110 k rehab on REO. Banks don’t allow assigning. Can you recommend another strategy close the deal?
Another strategy from assigning? Besides buying it and selling it?
In the past we have tied up a property in an llc, then sold the llc prior to closing on the property. That's one way we have gotten around banks
@@tarlyarber Thanks
How did you pay back the rehab cost you borrowed or was that added up in the 195k you borrowed? Please let me know. Thanks
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+1 (......8...0...5) 8....7...4-....2....7....8..6..
She's excellent at what she does, tell her I referred you to her.her strategies are top notch💯💯🇺🇸🇺🇸
It looks like It was added with the purchase price. The 195 looks like purchase and rehab
Rehab cost was added to the 195 and he refinance out of that at about 75% of the ARV which gave him 202500 something like that to pay the PML back. but he owed 206 to the PML so at closing he had to come out of pocket for the rest to settle the deal.
Are Tarl Yarber and Brandon Turner the same person??
Can anyone explain why they had to come back with $13k to close on the refinancing?
You have to pay all the fees to the loan officer to lock in that new rate
You make it sound so easy! As someone who attempted this first hand. I can assure you it is not. At least not the first time around lol.
What do you suggest differently?
@@JAUSHTHEBAUSS not sure in understand your question
@@terrandysart3587 so what would your steps be?
What's the point of borrowing money? You shouldn't have to borrow money if you done so many flips. What am I missing?
6:57 the cops?
The initial lender paid 100% purchase price and 100% rehad? That is very odd that a lender would not make the borrower have some skin in the game. I work for a direct private lender and the max would be 80% of the purchase price.
Private lender, its a private individual that lends their own money. Normal strategy if you have the credibility to raise the funds and secure it with a note and deed of trust. Everyone has different terms they will lend on. Lots of ways to structure a deal
What is a 1031 in canada?
we don't have it in canada and there is no equivalent either
1031 exchange all the way
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