How I MASTERED the BRR (Buy, Refurb Refinance) Strategy!

Рет қаралды 7,716

3 жыл бұрын

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In this video, we explore how to analyse BRRR property deals for beginner property investors. This is how I look at and analyse property deals and what that process looks like of buying an investment property, refurbishing it and then refinancing it onto a longer term mortgage. Typically you would look to get a bridging loan to finance the initial purchase of the property and then refinance onto a buy to let mortgage to hold onto the property longer term. I include typical values of how a BRR deal could work.
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I'm Matt, a product owner and property investor working in London, UK. I make videos about money, finance and property investing to help people lead a more financially savvy life. In my spare time, I’m documenting what it takes to diversify my income and build a business.
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#brrstrategy #propertyinvesting #buyrefurbrefinance

Пікірлер: 35

@MattBrighton 3 жыл бұрын

Are you exploring BRR at the moment? Have you recently completed on an awesome project? Let me know below!

@unorthodoxsavings9552 3 жыл бұрын

BRRR is how I got my first property, it’s my go to strategy !

@MattBrighton 3 жыл бұрын

I was planning to jump in with it this year but every man and his dog is after the same so I have a few creative strategies in mind to add value to a done up property and try and knock out some of the 'flip' competition

@jimholland7933 3 жыл бұрын

I had the same mindset thinking other investors are completely over paying for deals as there was no way they could stack for our numbers, but I have since spoken to a few people who invest in the north west from outside the area and they have stated that the properties are so cheap that they do not mind taking a hit on ROCE for example as there is no other viable alternative for them to invest there money into at the moment. Everyone has different things which make the deals work. Brill video, think it worked really well without music.

@MattBrighton 3 жыл бұрын

Yeah! Interesting but sad as perfectly good deals with so much potential sell for a price that just doesn't work! But I'm thinking more and more whether to just bite the bullet otherwise I'll probably be sat around for another year or two and that waiting would probably wipe out any losses anyway!

@Akta 3 жыл бұрын

really like that you explained how to discuss offers with the estate agents if you think the property isn't worth what they valued, thank you! Another great video Matt :)

@MattBrighton 3 жыл бұрын

As long as you give them a good rationale, it can help them explain it to sellers who have too high expectations! I've spoke to some agents who have said the seller is a bit stubborn / won't budge so sometimes a few low-ball offers helps them out to help the seller re-set their expectations!

@HasanKubba 3 жыл бұрын

Great explanation thanks Matt!

@MattBrighton 3 жыл бұрын

Glad you found it useful! Hope all is well!

@mogheesmir 3 жыл бұрын

Another great video Matt, thanks for sharing 👍. I will soon be looking for deals around the 100k mark. I am anticipating this will take time to find a good deal with prices booming so much, I just hope I follow the numbers and don't get the buying itch!

@MattBrighton 3 жыл бұрын

It’s still relentless on the market and tempting to make silly offers when everything oversells. You just have to trust the numbers!

@JonSheldon610 3 жыл бұрын

Thanks for the great info. I have thrown so much savings into my rental properties, even with great ROIs I am a long way of replacing my main income. You’re right, it’s playing the long game.

@MattBrighton 3 жыл бұрын

When you do the maths on it, it's a slow start but compounding growth can be powerful so it can come around fast all of a sudden!

@TheDroneOperator. 3 жыл бұрын

Hi Matt, great video but I think your numbers are flawed at @11:20 The 5% increase in year two is 5% of the value after the first year and year three the 5% is of the value of the second year and so forth. Therefore the numbers should be more!

@LoveLearningInDorset 3 жыл бұрын

Another great video. The market is SO 🔥 right now, like you say, especially for the 100k properties. I m keeping an open mind and keeping my options open

@MattBrighton 3 жыл бұрын

Snap! I'll be looking for flips again at the end of the month, but if they're too competitive I have other ideas with done-up houses to still add value.

@thethinkingman2005 Жыл бұрын

Can I ask, do you get the builder to quote for labour only, some materials or everything?

@MattBrighton Жыл бұрын

Depends how involved you want to be. Of course if they do materials there will be a markup on it to pay for their time to go get everything

@stevelevick8705 2 жыл бұрын

We received the keys to our latest property late December , full refurbish project with hopefully very good gains , it was a BMV of around 30% and we plan to spend around 50k ( adding an extension) so hopefully all good . My question ( if verging on a slightly heavier note ) is how many investors know about the pitfalls or one in particular of buying below market value ? Which is , if the seller of the property goes bankrupt within 5 years of the sale , the property can be called into question and maybe even be taken back to pay the debts ? This is one question that has never been asked or mentioned in all videos and content I’ve watched , what’s your take on this ? Great video by the way

@slengoslengaw8510 2 жыл бұрын

Thanks for the great video. So how would the mortgage work for the second house if you already have a mortgage for the first one? Would the first house be lent out through a ltd company?

@MattBrighton 2 жыл бұрын

Would depend entirely on you whether to via a limited company or own name - all depends on your tax situation and future plans (I have another video covering it high level).

@benwalsham6803 3 жыл бұрын

After 35 year BTL interest mortgage though if you only have 25% in how do you pay the bank back the rest of the mortgage that being 75% unless you have loads of cash just sitting round lol !?

@prestonmcgurk4772 2 жыл бұрын

Just subscribed top man would love your advice earlier lol 😂

@MattBrighton 2 жыл бұрын

Thanks for the sub! Drop me a DM on instagram - happy to answer any questions!

@justaguycommenting 3 жыл бұрын

I'm looking to get into property using the BRRR strategy, but I am a self employed contractor, so my income is... "unstable", so I'm guessing my mortgage options are limited? What steps can I take to ensure I get good deals for a mortgage? I doubt just a good credit score would do it, would I need to put more down as a deposit for example?

@MattBrighton 3 жыл бұрын

Talk to a broker about options. Lenders can look at the average of the past few years etc as some lenders specialise in sole traders etc

@daddo1600 3 жыл бұрын

If I had 50-60k would I be better buying the house in cash and do the refurb OR use bridging finance to finance the deal (and perhaps the renovation) and pivot onto a BTL once the work is done?

@MattBrighton 3 жыл бұрын

If you had enough cash then avoid bridging as it'll cost about £5k in bridging costs so you'll be able to stretch a deal further. However - with a bridge it will allow you to purchase a more expensive house for greater returns so it's all proportional.

@gavinrichardson6692 3 жыл бұрын

Great vid Matt but the example of a 100k house bringing in £700 per month is a little off the number I feel. Please correct me if I’m wrong or point out the area this is possible.

@MattBrighton 3 жыл бұрын

Yeah, £700 might be a little ambitious! Around South Yorkshire where I'm investing, if you was lucky and got a strong deal you could maybe get £600 - £650 for a 2/3 bed depending on area and spec. Wouldn't be too impossible though!

@gavinrichardson6692 3 жыл бұрын

@@MattBrighton cheers mate, just been looking into Houghton le spring,some are offering yields of £600-£650. Thanks for the help.