Shownotes
How can you make $100K in a single real estate deal without buying another investment property? Welcome to the easiest BRRRR deal you can do!
Join Open Spaces at the BRRRRCON 2023 on Dec 8, 2023! Learn from industry leaders to make, multiply, and protect your wealth! – www.thebrrrrcon.com
Palak and Niti have executed this deal three times so far. And, so long as you own your primary residence, you can easily make $100K by forcing the appreciation on the property that you live in. Many others in the Open Spaces community have done it too – some even successfully combined a primary residence BRRRR with a house hack!
Living in your primary residence and then fixing it over time means you don't need to spend all your renovation budget at once. There's no need for additional financing, and because you're living in the property, you can manage it better as you keep an eye on your contractors!
For many of us now working from home after COVID, improving the quality of your life by upgrading the home that you're living in makes a lot of sense.
Isn't it time you took advantage of an unused space? Perhaps a basement that's been neglected, or by adding a full bath to a room that's not in use?
Learn how Palak and Niti used their Home Equity Line Of Credit to make over $100K on their second primary residence and marvel at the unused basement that is now their office and broadcast studio! This could be the easiest $100K you'll ever make.
"There's so many things you can do, today, to upgrade your life and upgrade your living, but also have a good, worthy (property) appreciation. ~ Niti Jamdar
In This Episode:
- 00:45 Case study: a primary residence that Palak and Niti bought for $400K and sold for $700K
- 03:59 Palak and Niti put their upgrade strategy 'on steroids' for their second property
- 06:37 How to use a HELOC from the bank as seed money from a hard money lender
- 08:15 What can you do to add equity to a primary residence?
- 09:40 Coming to you live from Palak and Niti's third primary residence BRRRR project!
- 13:45 What to do when you've forced the appreciation
- 15:20 What BRRRRing your primary residence can do for your overall business
- 17:55 Doing a primary residence BRRRR and house hack at the same time!
Resources:
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