BRRRR Method
The BRRRR Method is a great way to build long term wealth and build it relatively quickly.
BUY: buy the property. Make sure when you are searching for a property to utilize this method that you find a property that needs some level of rehab. You may want a completely run down one or something that just needs a bit of paint, new hardware, maybe new floors but nothing major. I would probably go for the latter.
REHAB: do the work that is going to raise the value of the house and make it attractive to tenants.
RENT: RENT IT OUT!
REFINANCE: Figure out how much capital you need for your next investment. Use a real estate platform like Zillow to estimate the value of your home over time (search for other houses sold within your area with similar level of upgrades). Once you have enough equity to pull out some money you then reach out to a mortgage lender to figure out the numbers. Once the numbers make sense to you, refinance. Take that money and now use that as a downpayment for your next property. (You probably want to make sure the cost of taking that equity out will be covered by one of your investments).
REPEAT: Repeat steps 1 through 4 again with your newest property.
