Let's talk about Real Estate Investing

Do you know what’s something interesting? Real Estate Investing! In this video, Caleb talked about how to invest in Real Estate. He mentioned about the BRRR Method which stands for Buy, Rehab, Rent, and Refinance. First step is to buy a property. It can be some fixer-uppers so you can get it in a discounted price or maybe someone wants to sell their property quickly because they just want to get rid of it. The next step is to rehab. You will have to change or improve the house by giving it a fresh paint, change the carpets, update the walls or roofing or maybe light fixtures. After doing all this work for improvements, you can sell the property for its market value then you can have the difference as your profit. This is what you call Flipping. Just remember that you have to deal with the financing fees, selling fees, property to be listed, professional pictures of the property, and closing fees.

Another way of getting a profit from the property is keep it and have it rented. By that, having it rented out can pay for your mortgage, tax, insurance and repairs. If you’re already getting a cashflow and stabilized the property, next step after renting it out, is Refinancing the property. Go to a bank and apply for a loan. It is common that a bank can lend you 80% loan to value on an investment property (depends on other banks). You can earn money by just sitting down because tenants are paying you for all the financing costs, and you can gain your equity if the property equity appreciates – and you still have the power to control because you still own it.

If you have any questions or any concerns about Real Estate, feel free to contact the team at 316 365 7767 or visit the website at www.lhrealestatepros.com

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