Tarl has brought along with us a real-life example of the flipping vs. BRRRR investing dilemma, and spells out exactly what he would (and did) do in the situation. There are lots of mistakes to be made, but having an extra exit plan, cash reserves on the side, and experience with renovations/remodels can save you a huge amount of headache and money along the way. Stick around to hear Tarl’s pro tips, his key mistakes during this remodel, and an example of the finishing package he uses for his flips.
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Check out Last Week’s Episode:
The 5 Primary Risks of BRRRR Investing and Flipping Houses:
Get The Book on Estimating Rehab Costs
The Book on Estimating Rehab Costs
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@tarlyarber or https://www.instagram.com/tarlyarber/
00:00 Get Rich or Build Wealth?
04:10 Acquiring for $186,000
07:50 The Bad of the Property
11:52 Remodeling a Remodel
18:35 Pro Tip: Getting Your Permits
19:34 After Photos
21:38 Pro Tip: Comping for Flips vs. Rentals
24:37 Where Were The Mistakes?
26:38 The Final Numbers
27:55 Pro Tip: Don’t Bet on Appreciation
29:33 Pro Tip: When to Count CapEx in Your Budget
34:02 Pro Tip: Keeping Rentals vs Selling
35:02 When Can a BRRRR Go Wrong?
37:26 Pro Tip: Get a Pro to Choose Finishes
38:53 Finish Packages
39:05 Pro Tip: Don’t Let GCs Choose Finishes