In this episode 33 of An Investors Journey Podcast, we go do a How-To Combine a Sub-To With The BRRRR Strategy!
We recently had a chance to purchase a house with terms (Sub-to) and refinance it to keep it as a rental.
We were looking to pick it up Sub-to and get a 2nd loan for the repairs and then we wanted to see if we can refinance 2 loans together.
The issue we were facing was when started to call out network about seeing if this was possible we got all "I don't know" answers.
So we sat down and looked at our worst-case scenario. This was if we can't refinance we'll just go ahead and flip it.
As a flip it might have generated $20K which is not bad but we wanted to keep this one because of its location.
Either way, it was going to definitely be a great lesson and something we can now share with you.
In San Antonio, if you can buy a house where it's ARV (After Repaired Value) is between $130K-$180K in a nice area of town you definitely want to hold on to it. You will see great appreciation over the coming years.
In the video we cover:
How we found it
Why we decided to do it as a Sub-to instead of a cash buy
The way we ran all of our numbers
Problems we faced with title
The renovation we did
What we rented for
The final numbers
Like always if you have any questions feel free to reach out to email@example.com
Hope you enjoy this episode and please share.
Our Most Recent Rental Using BRRRR Step-By-Step - AIJ026
The Magic of Buying Subject To AIJ013
The Ugly Truth About Passive Income AIJ011
How to Buy Rentals While Having A Full-Time Job AIJ009
What is BRRRR? And How Can You Do it? AIJ008
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Hope you guys enjoy this one!
Keep sending us your questions! @prymehomes
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