BRRR (Buy, Refurbish, Rent, Refinance)
- This is the ultimate way to build wealth through property if it is done correctly
- Negotiate a good price at the point of sale
- Renovate the property to increase the value
- Revalue the property after renovation
- Mortgage the property at new higher value and recover up to 75% of the value in cash
- The money you receive from the mortgage is not subject to taxes as it is a debt
- Use this lump sum to reinvest into another property, effectively recycling your money
- You can combine this technique with any of the other property strategies
- At any point of ownership you can refurbish your property and then refinance. This is not a one show pony technique, you can do it over and over again