How to Succeed in Real Estate with the BRRRR Method
Here is my presentation from 2019 on the BRRRR method for the Midwestern Association of Real Estate Investors (MAREI). It took place before Covid-19 which is why there are no references to the pandemic or lock-downs. And while one definitely needs to be careful investing right now, the principles still apply.
Private lenders are great. Indeed, they're probably the greatest way to invest in real estate out there. But private lenders are not that easy to find unfortunately. And for a newbie, it's much more difficult. So in this video, we discuss how to get that all-so-important first private lender.
Original YouTube Video: https://www.youtube.com/watch?v=CWuRxl9vqMo&t=1s
The gurus will tell you that it's easy to buy real estate without any money down (with the exception of the $3000 you need to pay for their course and the $1500/month training, of course). Unfortunately, that isn't the case. There are ways to buy real estate with no money down, but they are few and far between and it's very hard to make a business out of such strategies.
That being said, there are great ways to buy real estate for low money down (and occasionally none) that you should take full account of, especially if you don't have a ton of money to start with.
-Have Money to Start With
-Save and Hold
-Flip and Hold
-Buy, Move in... Move Out and Hold
-House Hacking
-FHA and 203K Loans
-Subject To
-Contract for Deed/Land Sales Contract
-Seller Financing
-Partnerships
-Private Loans
Original YouTube Video: https://www.youtube.com/watch?v=ibqMTtYE-rI
This was filmed prior to the CDC extending the eviction moratorium until October 3rd. Where exactly the CDC got the right to overrule the Supreme Court and write its own legislation is the topic of another video.
Regardless, whenever the moratorium does end (assuming it eventually does) and despite what the media has repeatedly said, there is not going to be an onslaught of evictions with millions of people thrown out on the streets now that the federal moratorium is over. Yeah, hysteria is good for business in the news media, but it's (rightfully) damaged their reputation. This is no different.
Yes, there is going to be an uptick in evictions (how could there not be?) but there will be no tsunami. The evidence just doesn't support it.
Original YouTube Video: https://www.youtube.com/watch?v=baxtsyEmQvY&t=40s
Phillip and Andrew Syrios break down how to deescalate conflicts with tenants; whether it be over rent, late fees, moveouts, maintenance, etc. This skill is essential to staying sane in the property management business.
Phillip and Andrew Syrios are partners in Stewardship Investments, LLC, which owns just shy of 500 units in the Kansas City metro area.
Original YouTube Video: https://www.youtube.com/watch?v=97444vJ7Q94&t=18s
Catch both Phillip and Andrew at the upcoming IMN Single Family West Conference.
Website: https://www.IMN.org
To Register: https://www.imn.org/real-estate/confe...
Phillip's Panel: Scaling from 50 to 100 Units
9:45 am EST, Thursday, Dec 3rd, 2020
Andrew's Panel: Alternative Valuation Methods for Single Family Portfolios
11:40 am EST, Thursday, Dec 3rd, 2020
Here we preview Phillip's panel by discussing the difference between scaling and growing. Growing is just getting bigger. Scaling is building the foundation (systems, policies, key performance indicators, hiring and firing decisions, etc.) necessary to handle that growth. If you are going to get to 100+ units, you need to scale. Growing to that size without the systems will drive you crazy!
Original YouTube Video: https://www.youtube.com/watch?v=ecOeb71MmWs
This is my first of two presentations for the Midwestern Association of Real Estate Investors on how to value, find and acquire real estate deals. The presentation took place back in 2015 so it is a bit dated, particularly the prices. But the information is still very much relevant.
Original YouTube Video: https://www.youtube.com/watch?v=qHkaHrxj-zE
Here is Andrew Syrios' presentation for MAREI (The Midwestern Association of Real Estate Investors) on everything you could possibly want to know about due diligence. It was given before Covid-19, so that's why there's no discussion of that. But pretty much everything else you need to know is covered. And given how essential due diligence is, you will want to watch this one from beginning to end.
Original YouTube Video: https://www.youtube.com/watch?v=b5WUzEQTuEk&t=129s
Spoilers: The 2% Rule is complete and utter trash.
As for the others, they can be useful, but only as rules of thumb. And sorry for the low volume on this one.
The Good - The 70% Rule: (ARV x 0.7) - Rehab = Max Offer
The Mediocre - The 50% Rule: Gross Revenue x 0.5 = Approximate Operating Expenses
The Godawful: The 2% Rule: If the Monthly Rent / Total Cost = 0.02 (or 2%) it is a good investment
Original YouTube Video: https://www.youtube.com/watch?v=HAmqenNQBJM&t=199s
Here is Phillip Syrios' presentation for the Midwestern Association of Real Estate Investors on everything a real estate investor needs to know about property management and how to manage your own properties (or oversee a third party manager). The presentation took place back in 2015 but is still very relevant today.