Dominic Kosteris teaches Chicago investors the art of BRRRR
CHICAGO, ILLINOIS, USA, September 18, 2021 /EINPresswire.com/ – Investing in real estate always comes with a number of risks. However, the payouts can also be very large if the investor has the know-how and the right timing. Investing in homes with the intention of flipping them can have great profit potential, although the expense and risk can sometimes be just as high. Smart investors always look for methods that reduce risk and increase profits. The BRRRR method is very safe compared to other forms of investing and can be used by anyone with a stable income. It’s a very effective way to grow your wealth with limited downside risk and huge potential returns.
Dominic Kosteris has made it his mission to help people grow financially using the BRRRR strategy and has made a lot of money and continues to do more through smart investments while showing others how they too can use this useful tool.
What does BRRRR invest?
BBRRR stands for Buy, Rehabilitate, Rent, Refinance, Repeat. As you might expect, the BRRRR method of investing involves buying a property, rehabilitating it, renting it out, and refinancing. The process begins immediately after purchasing the property.
B- Buy. I was fortunate enough to buy an undervalued house for 50k. I bought it with my retirement funds.
R-Rehabilitation. I accessed a $ 5,000 rehabilitation supplement which included painting, refinishing hardwood floors, and repairing broken windows.
R- Rent. I rented it for $ 1400
A- Refinancing- I am dealing with a credit union. They valued the unit for 90,000 and gave me a loan of 67.5,000. I paid off my retirement savings. With the extra 12k I made I used it to purchase another unit by depositing the required 20%
A- Repeat- I am on the lookout for another home that is undervalued now that my retirement funds are paid off.
The goal is to do this over and over again while increasing your passive income.
While most investors are excited about the idea of ââflipping homes for huge returns, this process can lead to some difficulties. Property flipping isn’t for everyone if you’re not comfortable spending time and money on a project. It also involves a lot of risk because you have to buy low, renovate high and then sell higher. There are times when the sale will fail and your plans will have to be changed, which can cost you more in opportunities than you can afford.
The BRRRR method and rental properties
Dominic Kosteris started off by explaining that there are so many similarities between buying stocks or buying real estate and let’s face it – real estate investing offers a lot more “bang for your buck”. It’s a great way to build wealth, and it also offers a lot of flexibility. There is much less risk in investing in real estate, and it has the potential to deliver huge returns when done correctly.
How does the BRRRR method work?
This technique works great if you are looking to invest in real estate where you buy low cost investment property and rent it out to tenants for income through your bank account or with another person’s bank account while waiting for the home value increase so that it can be sold for more money than the purchase costs.
Dominic Kosteris made his fortune by exploiting the BRRRR strategy. His latest acquisition was a 3 bedroom, 1.5 bath property which he purchased for a total of $ 50,000, including repairs and the purchase price. He started renting it out for $ 1,400 and also took out loans from his retirement fund to finance this project, spending a total of $ 56,000 on construction, 75% of which was funded by the Credit Union of the Co-operatives of credit, allowing it to derive maximum profit while minimizing risk. through strong financial management skills.
Dominic Kosteris used the money in his fund to buy a house in his neighborhood. He then put in 20% of the cost required by the FHA and saved himself on interest payments for years! He then collected rent from the tenant and continued to save hundreds of dollars in interest for years.
Dominic Kosteris figured out a neat way around that pesky rule of not being able to get an investment loan with Federal Housing Administration funding when he bought a house like everyone else – but instead of taking out a mortgage, Dominic prepaid using funds donated by the credit union. He used the money from this refinancing to buy more rental properties using the BRRRR strategy. Not only did he save on interest payments, but he also got a pretty good deal for himself.
However, the BRRRR method is a great way to secure real estate and get ahead! This can be a great way to get started with real estate investing without having to tie up your savings.
The BRRRR method is one of the most popular ways to start investing in real estate without depleting your savings. It might not always be an easy way, but it can pay off in the end if you’re willing to work a bit up front.
Dominic Kosteris was recently featured on Inspirery and Dotcom Magazine. For more information visit www.domenicoskosteris.com
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