Was glued on to SA but I think BRRR sounds amazing

Hi Samuel, I’m currently in the middle of my first BRRR property that was actually just a BTL. I didn’t even know about this strategy so thank you for the content and information you provide. See you next week 😉

@void7366

Жыл бұрын

How did that go

Very smart and very simple Thanks for sharing ❤ I just moved in to uk from Pakistan, looking to make money. I hope I will make some grands in a year and I will definitely invest it

How much money would you recommend to start this strategy with Samuel?

I understand everything else but looking online no one is offering more then 85% LTV so how can you get all your money out

I can’t see how we can put the money in and pull out the same amount from the calculations I’ve done?

How much did the refurbishment cost ??

Looks like your getting younger.

I don't understand the principle of "refinancing" you are talking about in the video. Can I get an explanation please?

@sohail4516

2 жыл бұрын

Yes same

@dhiralpandya7885

2 жыл бұрын

Say you buy a house for £50k. You put down 10k and mortgage the 40k. It needs a £10k refurb. You’ve only spent 20k out of your own money (10k for depo and 10k for refurb). The value of the house is now £65k. You go back to the bank and say you need another mortgage on the house. Because the house is worth more now, they’ll give you more money for it, so let’s say 60k. You take that 60k, you pay off the initial mortgage that you bought the house with (£40k) and and keep the rest. You’ve basically made your 20k back that you initially put into the property.

@dhiralpandya7885

2 жыл бұрын

Oh and the rent will cover the monthly payments for the new mortgage

@drapoon3

2 жыл бұрын

@@dhiralpandya7885 So it means you basically got a house for "free" at the end with an investment at the beginning ?

@dhiralpandya7885

2 жыл бұрын

@@drapoon3 indeed!

So does it mean in essence that when you add value and refinance the equity of 12k gets knocked off the original purchase price of 20k meaning you actually bought it at 3k?

Yeah but what type of loan is that, for the refinance?

@samarjyotsapra4434

10 ай бұрын

Just get another mortgage on the new higher value and use that money to pay off the old mortgage. Any leftover money you keep

can i do brrrr but not buy property for full price ? example lets say property cost 50k i put deposit 10 k + renovation cost + all other cost will be example 15 k so total 25k and then this property example now its worth 75 k and this 25 k i can refinance ? and put into new property and still keep this first one as a rent ? or i have to put all 50k to have this property + 15 k for renovation etc ? so long story short - can i invest into brrrr but put only deposit instead full price ? thank you for answer :)

Id love to get involved but I don’t see this working down south the properties are so expensive. Am I wrong? 😱😱 (SW England)

@collinola

2 жыл бұрын

I'm in a similar boat to you. I live in London and prices are just too high! I'm looking to start up north, and get a little experience first, before thinking about London.

@Rich-ls5mm

2 жыл бұрын

Buy out of the area then. If your renting it out then it doesn't matter where it is.

@mrjelfs3705

7 ай бұрын

Then don't buy down south....

Definition of a GOAT: Samuel Leeds

:) !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :)

Ahahahahahahha! Great actor

When he says pull the money back out, is he talking about equity?

@PeacefulPath190

8 ай бұрын

Yeah