Key Figures for BRRR Deals
What are the three key figures for BRRR deals? If you are wondering what numbers you need to look at, you should attend the Crash Course and speak to our experts. However, there are some basics you can pick up now from this video. Also in this episode of the podcast, Amelia discusses pranks! The team pranked Samuel at one of his events. You'll be cringing all the way through. The great thing about these episodes is that Amelia works so closely with Samuel as a talent manager, she can help pluck out unique insights for you to hear about.
Samuel recently went up to Liverpool with his team and they viewed some properties. There was a HMO, a serviced accommodation property and finally, a cheap house with BRRR potential. Are you thinking about doing a BRRR deal? You should write down the purchase price, refurb costs and end value. That way you know how much you are putting in, what the development and fix-up costs are likely to be, and how much you can sell the property for. This is how you can quickly understand whether the deal is worth it.
If you want to become a more successful property investor, you need to make notes about your potential projects. You need to keep a diary of your viewings, including the figures that are associated with them. That way you'll be able to evaluate and analyse which areas have the best deals. It will also enable you to make comparisons between properties, accelerating your knowledge and expertise so that you become well-versed.
There is one other nice tip which is given in this video and it can be applied to anybody in any field. Samuel says you should organise a dinner a few times per year, and pay for it. To this dinner you should invite the most successful and influential individuals you know. This could be 3 people or it could be 13 – it doesn't matter. Watch what happens after hosting such an occasion, you may be surprised about the outcome.