In a short video I briefly spoke about British rap star Krept buying an investment property in Liverpool. I have a blog post about this story here. Basically it was a BRRR (Buy Refinance Refurbish Rent) which he turned into an HMO. He bought the property for £43,000, did it up for £30,000 and the end value was £100,000-£110,000. He refinanced it, pulling all his money out of the deal. Not only that, he also bought the house right before the area introduced an Article 4 direction. That means that any future HMOs will require planning permission, which the local council is unlikely to grant. This means that he doesn’t need to worry about future competition. Smart.
In this article, I am going to introduce you to the Property Millionaire Intensive a free training course, which will teach you exactly how Krept did it and how you can do the same. Later in the article I will let you know how to book a free ticket, but first let’s talk about what you will learn.
What is BRRR?
I am touring the UK teaching people about the exact strategy I taught Krept, Buy Refinance Refurbish Rent. It is a strategy that allows you to take a small pot of money and use it again and again to buy property. It is the method many people have used to become millionaires in the property space. So how does it work? You buy a property that is in a state of disrepair for a low price, you then do it up and refinance it at its new value. You can get a mortgage for 75% of the value of the property. Therefore, as long as 75% of the new value is equal or above the amount you spent to buy and refurbish the property, you get all your money back. You can then use the same money to do it all again.
If you don’t have any cash, you can raise finance from investors. I teach you how to do that on the Property Millionaire Intensive as well. There are plenty of people that do this with none of their own money. They do all the work, while their joint venture partner puts in all the money. An investor could be anyone, it doesn’t have to be a high flying business man. You may have family or friends with savings or you might even meet someone on the training day itself.
What exactly is the Property Millionaire Intensive?
The Property Millionaire Intensive is a full day of training where you will learn how to do BRRR deals yourself. You will learn about building a power team; how to use the 5 different types of raised finance; how to use other people’s money to build your property portfolio and much more. If you want additional help implementing all that you have learnt, there will also be options for further training.
So what’s the catch? Well, I only have a limited number of spaces so you need to book soon or I can’t guarantee you a space. If all the spaces are booked up in your area, I would advise that you travel to one of the other areas. You need to be an action taker in the property game. If everything is booked up, you will have to wait to see if and when I do another tour.
As promised earlier, here is the link to book your free ticket to the Property Millionaire Intensive.If you do manage to get a ticket before they are all booked up, I look forward to meeting you soon.