Corey Reyment is a firm believer of the BRRRR method in building long-term wealth.
The BRRRR strategy stands for Buy, Rehab, Rent, Refinance and Repeat. This method is a real estate investment strategy that involves flipping distressed property, renting it out, and then cash-out refinancing it in order to fund further rental property investment.
But what makes the BRRRR method different from other real estate strategies?
Watch this short video now to learn more.
Corey Reyment is a full-time real estate investor originally from Green Bay.
Corey and his wife Carrie bought their first duplex at the end of 2016 and parlayed that into 115 doors within three years of that first purchase using the BRRRR Strategy almost exclusively creating a portfolio now worth over $8 Million dollars.
They also run Fox Cities Home Buyers and Wisconsin Discount Properties, the largest real estate wholesaling company in Wisconsin, where they did about $2 million in revenue in 2020.
They teach students across the country who are looking to get their first BRRRR Deal and run a Mastermind Group called Launch, which helps businesses go from working in their real estate business to working on their business.
For more valuable information click on this link and watch the complete episode: https://youtu.be/ZSq-AX2-1PM – “Discover the BRRRR Method with Corey Reyment and Jay Conner, The Private Money Authority”
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Jay Conner:
What is it about the BRRRR strategy that you’ve really been drawn to that over and beyond other strategies?
Corey Reyment:
Well, again, I love it cause you can use it for any asset class. You can use it for, like you mentioned, you could do it for rent-to-own. I have a couple of them right now that we have rent-to-owns going and it works great. We get that option fee upfront where we’re buying the property at a discount. So we have the equity built in with the tenant buyer and in what we got it under contract for. And then we’re able to get a lender to refinance us out of the money that we had either front or raise from private money or whatever the case was. And now we’re made whole on the strategy. And, you know, I looked at it. I’m not a big financial nerd as far as calculators and all that stuff. But one thing that never made sense to me is like, I’d have a lot of financial advisors that I went to school with or whatever they get into that field.
And they want to sit down and have coffee, right? That’s the old thing. And I’d sit and look at the rates of return on stuff. And they’re like, “Oh, I could get you, you know, five, 6% on this mutual fund” or whatever the case is, right? And then I’d like to ask them to look at this strategy, the BRRRR strategy. And I have no money into it after three to six months. So I’m paid back a hundred percent whole, I have none of my own money left in this deal and I’m getting cashflow every single month on top of that. So what’s my rate of return? And their minds would almost explode and, “You can’t do that. That’s not possible.” I’m like, “I’m doing it like it’s happening. It’s infinite. There’s an infinite return on investment because I have no capital stuck in this deal anymore.”
You can’t get me that in the stock market. You can’t get me that in anything else. You want a hundred thousand dollars worth of stocks? You got to put a hundred thousand dollars in the stock market and your principal could be gone tomorrow. Where in real estate, you know, I love the fact that you’re secured by real estate. You’ve got good, paying tenants in there that are going to pay down that debt for me, and I don’t have any money left in it. So it allows me to just recycle any funds that I can raise and just keep doing it over and over and over again. And it’s kind of boring sometimes. But when we get those appraisals back, when we’re going through that refinance and you got that big equity spread in there, it’s super exciting to know how much wealth you’re building by using this strategy and that it’s really unlimited. You can just continue to do it as long as you can find deals and find money for the private money part. So it’s super exciting to me that you get to create all this wealth and cash flow and not have to have your own investment into it.
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