That’s not a comment on the weather - it’s the acronym for Buy, Refurbish, Refinance. It’s the hot topic in property.
The concept is to buy a property that needs doing up at a relatively low price, refurbish it - probably a new kitchen and bathroom and maybe a coat of paint throughout - and then refinance at the uplifted value.
The challenge for most investors is that lenders don’t want to know about refinancing until you’ve owned a property for six months. Lots of people know about the ‘six month rule’. In reality it’s not a rule, just common practice - but most lenders aren’t willing to consider refinancing any property that you haven’t owned for long.
However, there are other aspects to this approach that most investors don’t think about.
So does that mean you shouldn’t pursue the BRR approach?
On the contrary, if you know how to finance your property purchases intelligently, you can use this philosophy as the backbone of your investment strategies.
There are two aspects that you’ll need to understand that can really launch your property investment to a much higher level:
So many people struggle with the BRR concept that I’m running a one-day Summit to help people to get their heads around this - with three expert speakers to help you to make BRR really profitable. Check it out here.
You can learn more here: